Zacks Investment Research Lowers Canadian Pacific Railway Limited (NYSE:CP) to Hold

Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, September 11th.

According to Zacks, “The improvement in the coal-related scenario is a huge positive for railroads with Canadian Pacific being no exception. This is because headwinds pertaining to the commodity are primarily responsible for the stock underperforming its industry over the last one year. We are impressed with the company’s efforts to reward investors through share buybacks and increased dividend payments. The company's efforts to control costs are also impressive. However, its high debt levels raise concerns. The company's below-par performance in key segments like sulfur and fertilizer, forest products and automotive also raise concerns.This might hurt the top line going forward.”

Several other equities research analysts have also recently weighed in on CP. Citigroup Inc reissued a “buy” rating and issued a $180.00 price target (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. Credit Suisse Group restated an “outperform” rating and set a $178.00 target price (up previously from $171.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, May 28th. BidaskClub lowered Canadian Pacific Railway Limited from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Stifel Nicolaus upped their target price on Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $188.35.

Shares of Canadian Pacific Railway Limited (NYSE:CP) traded down 0.18% during trading on Monday, reaching $168.03. The company’s stock had a trading volume of 319,806 shares. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $169.11. The company’s 50 day moving average price is $155.72 and its 200 day moving average price is $155.01. The firm has a market cap of $24.55 billion, a PE ratio of 18.33 and a beta of 1.09.

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A number of large investors have recently added to or reduced their stakes in CP. Causeway Capital Management LLC purchased a new stake in Canadian Pacific Railway Limited in the first quarter worth $662,274,000. Arrowstreet Capital Limited Partnership increased its position in Canadian Pacific Railway Limited by 62,170.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 934,062 shares of the transportation company’s stock worth $150,200,000 after buying an additional 932,562 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Canadian Pacific Railway Limited in the second quarter worth $108,548,000. OppenheimerFunds Inc. increased its position in Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock worth $368,038,000 after buying an additional 647,669 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Canadian Pacific Railway Limited by 31.7% in the second quarter. CIBC Asset Management Inc now owns 2,191,935 shares of the transportation company’s stock worth $352,265,000 after buying an additional 527,453 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Railway Limited Company Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

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Analyst Recommendations for Canadian Pacific Railway Limited (NYSE:CP)

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