Canadian Pacific Kansas City (NYSE:CP) Price Target Cut to $102.00 by Analysts at Citigroup

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its target price decreased by analysts at Citigroup from $109.00 to $102.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price target indicates a potential upside of 21.57% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on CP. Weiss Ratings upgraded Canadian Pacific Kansas City from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 8th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, June 25th. Evercore set a $99.00 price objective on Canadian Pacific Kansas City in a report on Thursday, July 30th. Citizens Jmp started coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Argus set a $105.00 target price on Canadian Pacific Kansas City in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.10.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded down $1.53 during midday trading on Wednesday, hitting $83.90. 1,312,381 shares of the company’s stock were exchanged, compared to its average volume of 2,683,727. The firm has a market capitalization of $73.42 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company’s 50 day moving average price is $90.34 and its 200 day moving average price is $87.54. Canadian Pacific Kansas City has a 12 month low of $68.42 and a 12 month high of $96.90. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. Canadian Pacific Kansas City’s revenue was up 12.6% compared to the same quarter last year. As a group, analysts predict that Canadian Pacific Kansas City will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CP. Invesco Ltd. increased its stake in shares of Canadian Pacific Kansas City by 1.3% in the 4th quarter. Invesco Ltd. now owns 23,431,949 shares of the transportation company’s stock valued at $1,725,294,000 after purchasing an additional 303,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Canadian Pacific Kansas City in the second quarter valued at about $802,983,000. The Manufacturers Life Insurance Company acquired a new position in Canadian Pacific Kansas City during the second quarter worth about $657,672,000. Legal & General Group Plc acquired a new position in Canadian Pacific Kansas City during the second quarter worth about $604,797,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Canadian Pacific Kansas City by 9.8% in the first quarter. Janus Henderson Group PLC now owns 6,749,527 shares of the transportation company’s stock worth $530,551,000 after acquiring an additional 601,692 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited (NYSE:CP) is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.