Evercore Cuts Canadian Pacific Kansas City (NYSE:CP) Price Target to $89.00

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target lowered by investment analysts at Evercore from $90.00 to $89.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Evercore’s price target suggests a potential upside of 7.87% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Susquehanna lowered their price objective on Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday. Evercore ISI cut their target price on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays boosted their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Stifel Nicolaus boosted their target price on shares of Canadian Pacific Kansas City from $80.00 to $83.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a research report on Monday, March 25th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.42.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock traded up $0.58 on Thursday, hitting $82.51. The company’s stock had a trading volume of 2,027,279 shares, compared to its average volume of 2,102,528. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $76.95 billion, a PE ratio of 26.21, a PEG ratio of 2.25 and a beta of 0.94. Canadian Pacific Kansas City has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The stock’s 50 day moving average is $87.18 and its 200-day moving average is $79.73.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 31.29% and a return on equity of 8.52%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equities research analysts expect that Canadian Pacific Kansas City will post 3.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth about $979,890,000. TD Asset Management Inc boosted its holdings in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock worth $1,682,256,000 after buying an additional 6,835,271 shares during the period. Legal & General Group Plc acquired a new position in shares of Canadian Pacific Kansas City during the 3rd quarter worth approximately $481,016,000. Sustainable Growth Advisers LP increased its stake in shares of Canadian Pacific Kansas City by 151.4% in the 3rd quarter. Sustainable Growth Advisers LP now owns 7,847,292 shares of the transportation company’s stock valued at $583,917,000 after purchasing an additional 4,726,098 shares during the last quarter. Finally, Causeway Capital Management LLC bought a new stake in Canadian Pacific Kansas City during the 3rd quarter worth $305,505,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Company Profile

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.