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

Key Points

• Citigroup cut Canadian Pacific Kansas City’s price target from $109 to $102 while maintaining a “buy” rating, implying 21.57% potential upside from the stock’s $83.90 price.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $107.10.
• CPKC exceeded quarterly expectations, reporting $0.92 in earnings per share and $2.93 billion in revenue; revenue increased 12.6% year over year.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP had its target price decreased by equities research analysts at Citigroup from $109.00 to $102.00 in a research note issued on Wednesday, BayStreet reports. The firm currently has a "buy" rating on the transportation company's stock. Citigroup's price target would suggest a potential upside of 21.57% from the company's current price.

A number of other equities research analysts have also recently issued reports on CP. Wells Fargo & Company boosted their target price on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 30th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 16th. Citizens Jmp began coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Finally, Evercore set a $99.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus target price of $107.10.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $1.53 during trading hours on Wednesday, hitting $83.90. The company had a trading volume of 1,312,381 shares, compared to its average volume of 2,683,727. The business has a fifty day moving average of $90.34 and a 200-day moving average of $87.54. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The firm has a market cap of $73.42 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.79 and a beta of 1.13. Canadian Pacific Kansas City has a 12 month low of $68.42 and a 12 month high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. Canadian Pacific Kansas City's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 EPS. Equities analysts anticipate that Canadian Pacific Kansas City will post 3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CP. GAMMA Investing LLC boosted its position in shares of Canadian Pacific Kansas City by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,511 shares of the transportation company's stock valued at $304,000 after acquiring an additional 130 shares in the last quarter. First Eagle Investment Management LLC raised its position in Canadian Pacific Kansas City by 4.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,516 shares of the transportation company's stock valued at $305,000 after purchasing an additional 134 shares during the last quarter. Foster Group Inc. grew its holdings in Canadian Pacific Kansas City by 3.3% during the 2nd quarter. Foster Group Inc. now owns 4,279 shares of the transportation company's stock worth $371,000 after acquiring an additional 137 shares during the last quarter. Modern Wealth Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 1.2% in the first quarter. Modern Wealth Management LLC now owns 12,170 shares of the transportation company's stock valued at $950,000 after purchasing an additional 142 shares in the last quarter. Finally, Altshuler Shaham Ltd raised its position in shares of Canadian Pacific Kansas City by 1.2% during the first quarter. Altshuler Shaham Ltd now owns 11,766 shares of the transportation company's stock worth $926,000 after acquiring an additional 144 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.

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