Wells Fargo & Company Has Lowered Expectations for Canadian Pacific Kansas City (NYSE:CP) Stock Price

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price objective lowered by Wells Fargo & Company from $92.00 to $90.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.04% from the company’s current price.

Several other research firms have also recently weighed in on CP. Barclays increased their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein decreased their target price on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Stephens upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $81.00 to $88.00 in a research note on Monday. StockNews.com cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.79.

Canadian Pacific Kansas City Stock Performance

CP stock traded up $0.56 during mid-day trading on Tuesday, hitting $76.90. 463,810 shares of the company were exchanged, compared to its average volume of 1,896,683. The business has a 50 day simple moving average of $75.23 and a 200-day simple moving average of $79.42. The stock has a market capitalization of $71.78 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Canadian Pacific Kansas City has a 1-year low of $70.89 and a 1-year high of $91.58. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Canadian Pacific Kansas City will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC boosted its stake in Canadian Pacific Kansas City by 11.5% in the 2nd quarter. Private Advisor Group LLC now owns 10,918 shares of the transportation company’s stock worth $860,000 after purchasing an additional 1,130 shares during the period. Savant Capital LLC grew its holdings in Canadian Pacific Kansas City by 1.2% during the 2nd quarter. Savant Capital LLC now owns 27,450 shares of the transportation company’s stock valued at $2,161,000 after buying an additional 334 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 521.3% during the 2nd quarter. Acadian Asset Management LLC now owns 36,036 shares of the transportation company’s stock worth $2,836,000 after acquiring an additional 30,236 shares in the last quarter. Certuity LLC bought a new position in shares of Canadian Pacific Kansas City during the 2nd quarter valued at approximately $217,000. Finally, Caprock Group LLC boosted its position in shares of Canadian Pacific Kansas City by 56.9% during the 2nd quarter. Caprock Group LLC now owns 9,904 shares of the transportation company’s stock valued at $781,000 after acquiring an additional 3,593 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

About Canadian Pacific Kansas City

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.