Barclays Cuts Canadian Pacific Kansas City (NYSE:CP) Price Target to $91.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective lowered by analysts at Barclays from $97.00 to $91.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price would suggest a potential upside of 21.67% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Bank of America reduced their price target on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Evercore ISI increased their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Sanford C. Bernstein reduced their price target on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, January 8th. Finally, Stephens raised Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $81.00 to $88.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.63.

Canadian Pacific Kansas City Price Performance

CP stock opened at $74.80 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a 1 year low of $70.89 and a 1 year high of $91.58. The firm has a market cap of $69.83 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The stock has a 50-day simple moving average of $74.69 and a 200-day simple moving average of $79.17.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business posted $0.69 EPS. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Canadian Pacific Kansas City will post 3.02 earnings per share for the current fiscal year.

Institutional Trading of Canadian Pacific Kansas City

Several hedge funds and other institutional investors have recently modified their holdings of CP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Canadian Pacific Kansas City by 398.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after buying an additional 1,678,784 shares during the period. National Bank of Canada FI boosted its position in shares of Canadian Pacific Kansas City by 84.4% in the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after buying an additional 1,348,474 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Canadian Pacific Kansas City in the third quarter worth $63,179,000. 1832 Asset Management L.P. boosted its position in shares of Canadian Pacific Kansas City by 5.5% in the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after buying an additional 723,188 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Canadian Pacific Kansas City by 39.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock valued at $172,132,000 after purchasing an additional 565,783 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.