Canadian Pacific Kansas City (TSE:CP) Price Target Raised to C$124.00 at ATB Capital

Key Points

• ATB Capital has raised the price target for Canadian Pacific Kansas City (TSE:CP) from C$123.00 to C$124.00, suggesting a potential upside of 21.43% from its previous close.
• Several other firms, including National Bankshares and Scotiabank, have also adjusted their ratings and price objectives for Canadian Pacific, with the average target price currently at C$119.46.
• Despite the positive revisions, Canadian Pacific's stock dropped by 2.6% recently, trading at C$102.12, with significant insider selling occurring in recent months.

Canadian Pacific Kansas City (TSE:CP - Free Report) NYSE: CP had its target price boosted by ATB Capital from C$123.00 to C$124.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

CP has been the topic of several other research reports. National Bankshares raised shares of Canadian Pacific Kansas City from a "sector perform" rating to an "outperform" rating and set a C$119.00 price target on the stock in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Canadian Pacific Kansas City from C$125.00 to C$131.00 and gave the stock an "overweight" rating in a report on Thursday. The Goldman Sachs Group cut Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 2nd. TD Securities increased their target price on Canadian Pacific Kansas City from C$117.00 to C$118.00 and gave the company a "hold" rating in a research note on Thursday. Finally, Scotiabank increased their target price on Canadian Pacific Kansas City from C$115.00 to C$120.00 in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$119.46.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down C$1.34 during trading on Thursday, hitting C$100.56. The stock had a trading volume of 1,609,193 shares, compared to its average volume of 1,617,576. The firm has a market cap of C$93.99 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.32 and a beta of 0.79. Canadian Pacific Kansas City has a 12 month low of C$94.60 and a 12 month high of C$119.20. The business's 50-day moving average is C$109.20 and its 200 day moving average is C$107.74. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 49.64.

Canadian Pacific Kansas City Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a dividend yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 20.06%.

Insider Activity at Canadian Pacific Kansas City

In related news, Senior Officer James Dominic Luther Clements sold 15,971 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of C$113.33, for a total transaction of C$1,809,927.95. Also, Senior Officer Keith E. Creel sold 170,227 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$110.59, for a total transaction of C$18,825,910.53. Insiders have sold 343,599 shares of company stock valued at $38,107,437 over the last ninety days. Corporate insiders own 0.03% of the company's stock.

Canadian Pacific Kansas City Company Profile

Canadian Pacific is a CAD 8 billion Class-1 railroads operating on more than 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States. It is the second-smallest Class I railroad by revenue and route miles. In 2021, CP hauled shipments of grain (22% of freight revenue), intermodal containers (22%), energy products (like crude and frac sand), chemicals, and plastics (20%) coal (8%), fertilizer and potash (10%), automotive products (5%), and a diverse mix of other merchandise.