5 Best Airline Stocks To Buy Now

4. Copa Holdings, S.A. (NYSE:CPA)

Number of Hedge Fund Holders: 29

Copa Holdings, S.A. (NYSE:CPA) operates an estimated 204 daily scheduled flights to 69 destinations that span 29 countries in North, Central, and South America, as well as the Caribbean from the Panama City hub. It is one of the best undervalued airline stocks to buy now. As of June 7, Copa Holdings, S.A. (NYSE:CPA) has a forward PE ratio of 14.40 and is trading at $70.53 per share with the company’s market capitalization sitting at $2.91 billion.

On May 11, Copa Holdings, S.A. (NYSE:CPA) posted a market-beating quarter when it announced earnings for the fiscal first quarter of 2022. The company reported earnings per share of $0.70 and exceeded expectations by $0.58. Moreover, the company’s quarterly revenue came in at $571.58 million, up 207.84% year over year, and outperformed revenue estimates by $14.03 million.

Shortly after the company’s earnings release, Barclays analyst Pablo Monsivais double upgraded Copa Holdings, S.A. (NYSE:CPA) to Overweight from Underweight and reiterated a $96 price target on the shares.

Hedge funds are piling into Copa Holdings, S.A. (NYSE:CPA). At the end of the first quarter of 2022, 29 hedge funds were long Copa Holdings, S.A. (NYSE:CPA) with stakes worth $433.92 million. This is compared to 21 positions in the previous quarter with stakes worth $396.01 million. The hedge fund sentiment for the stock is positive.

As of March 31, 2022, Marshall Wace LLP is the leading shareholder in Copa Holdings, S.A. (NYSE:CPA) owning over 1.46 million shares of the company. The fund upped its prior stakes by 27%, bringing them to $122.22 million in Q1 2022.