Capital Power (TSE:CPX) Raised to "Outperform" at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has upgraded Capital Power's stock from a “sector perform” rating to an “outperform” rating, with a new price target of C$67.00.
• Several other analysts have increased their price targets, with CIBC setting the highest target at C$72.00, reflecting a consensus average target price of C$65.78.
• Despite this positive outlook, Capital Power's stock recently traded down 0.5%, indicating a current price of C$57.72.

Capital Power (TSE:CPX - Get Free Report) was upgraded by equities researchers at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday, July 31st, Marketbeat reports. The firm currently has a C$67.00 price target on the stock, up from their previous price target of C$65.00. Royal Bank Of Canada's price objective would suggest a potential upside of 13.60% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. CIBC lifted their price objective on shares of Capital Power from C$66.00 to C$72.00 in a research note on Thursday, July 10th. Desjardins lifted their price objective on shares of Capital Power from C$67.00 to C$68.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Jefferies Financial Group cut shares of Capital Power from a "buy" rating to a "hold" rating and lifted their price objective for the company from C$59.00 to C$60.00 in a research note on Thursday, June 12th. TD Securities lifted their price objective on shares of Capital Power from C$66.00 to C$69.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, National Bankshares lifted their price objective on shares of Capital Power from C$62.00 to C$63.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Capital Power presently has a consensus rating of "Moderate Buy" and a consensus price target of C$65.78.

Capital Power Stock Performance

Shares of CPX traded down C$0.49 during mid-day trading on Thursday, hitting C$58.98. 96,810 shares of the company's stock were exchanged, compared to its average volume of 855,350. Capital Power has a 52 week low of C$41.87 and a 52 week high of C$68.73. The stock's 50-day simple moving average is C$57.17 and its 200-day simple moving average is C$53.11. The firm has a market cap of C$8.33 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.64. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 136.03.

Insider Buying and Selling at Capital Power

In other Capital Power news, Senior Officer Jason Daniel Comandante sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$52.95, for a total value of C$105,900.00. Also, Senior Officer Jacquelyn Marie Pylypiuk sold 962 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of C$53.63, for a total transaction of C$51,590.14. Insiders have sold 8,672 shares of company stock worth $460,121 over the last quarter. Corporate insiders own 0.17% of the company's stock.

Capital Power Company Profile

Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S.