ATB Capital Issues Pessimistic Forecast for Canadian National Railway (TSE:CNR) Stock Price

Canadian National Railway (TSE:CNR - Get Free Report) NYSE: CNI had its target price reduced by equities researchers at ATB Capital from C$155.00 to C$150.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. ATB Capital's price target would suggest a potential upside of 14.16% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. CIBC lifted their price objective on shares of Canadian National Railway from C$146.00 to C$155.00 in a research report on Thursday, May 22nd. Citigroup dropped their price target on Canadian National Railway from C$123.00 to C$121.00 and set a "buy" rating for the company in a research note on Wednesday. Desjardins lowered their target price on Canadian National Railway from C$169.00 to C$160.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. downgraded Canadian National Railway from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from C$154.00 to C$163.00 in a research note on Wednesday. Finally, National Bankshares cut Canadian National Railway from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from C$170.00 to C$150.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$155.79.

Canadian National Railway Stock Up 0.9%

Shares of TSE:CNR traded up C$1.23 during midday trading on Wednesday, hitting C$131.40. The stock had a trading volume of 1,241,901 shares, compared to its average volume of 1,357,911. Canadian National Railway has a 12 month low of C$129.90 and a 12 month high of C$164.53. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 107.59. The business's 50-day simple moving average is C$142.13 and its 200-day simple moving average is C$142.31. The company has a market cap of C$82.33 billion, a P/E ratio of 14.21, a PEG ratio of 3.38 and a beta of 0.65.

Insiders Place Their Bets

In other news, Director Susan C. Jones acquired 1,520 shares of Canadian National Railway stock in a transaction that occurred on Thursday, July 24th. The stock was bought at an average price of C$130.96 per share, for a total transaction of C$199,065.28. Also, Director Shauneen Elizabeth Bruder purchased 7,600 shares of the business's stock in a transaction on Thursday, July 24th. The shares were bought at an average cost of C$131.40 per share, with a total value of C$998,624.04. Over the last ninety days, insiders have bought 11,208 shares of company stock worth $1,484,739. Corporate insiders own 2.64% of the company's stock.

About Canadian National Railway

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2019, CN delivered almost 6 million carloads over its 19,600 miles of track. CN generated roughly CAD 14 billion in total revenue by hauling intermodal containers (25% of consolidated revenue), petroleum and chemicals (21%), grain and fertilizers (16%), forest products (12%), metals and mining (11%), automotive shipments (6%), and coal (4%).