Canadian Pacific Kansas City (NYSE:CP) Raised to “Outperform” at Wolfe Research

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $86.00 target price on the transportation company’s stock. Wolfe Research’s price target indicates a potential upside of 12.73% from the stock’s current price.

Several other research firms have also weighed in on CP. Evercore ISI increased their target price on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein lowered their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Citigroup cut their price objective on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.56.

Canadian Pacific Kansas City Stock Down 1.1 %

Shares of NYSE CP opened at $76.29 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $71.21 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The firm’s 50-day moving average is $75.16 and its 200-day moving average is $79.36. Canadian Pacific Kansas City has a 1 year low of $70.89 and a 1 year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. Equities analysts expect that Canadian Pacific Kansas City will post 3.05 EPS for the current year.

Institutional Investors Weigh In On Canadian Pacific Kansas City

Several hedge funds have recently bought and sold shares of CP. Bank of Montreal Can raised its holdings in Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after acquiring an additional 533,792 shares during the period. 1832 Asset Management L.P. grew its holdings in Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after buying an additional 723,188 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Canadian Pacific Kansas City by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after buying an additional 216,062 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Canadian Pacific Kansas City by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 8,768,362 shares of the transportation company’s stock worth $750,046,000 after buying an additional 381,594 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Canadian Pacific Kansas City by 9.7% in the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company’s stock valued at $501,219,000 after acquiring an additional 537,418 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.