Citigroup Forecasts Strong Price Appreciation for Canadian Pacific Kansas City (NYSE:CP) Stock

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) had its price target hoisted by investment analysts at Citigroup from $88.00 to $91.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would indicate a potential upside of 11.75% from the company’s current price.

CP has been the subject of several other research reports. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday. Wells Fargo & Company lowered their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their price target on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Susquehanna lowered their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $95.45.

Canadian Pacific Kansas City Price Performance

CP traded up $2.59 on Thursday, reaching $81.43. The company had a trading volume of 2,066,581 shares, compared to its average volume of 2,887,708. The company has a market cap of $76.02 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.01 and a beta of 0.96. The business has a 50 day simple moving average of $75.25 and a 200 day simple moving average of $79.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City has a 52-week low of $70.89 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. As a group, sell-side analysts anticipate that Canadian Pacific Kansas City will post 3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Canadian Pacific Kansas City by 281.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after purchasing an additional 2,532,519 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Canadian Pacific Kansas City by 84.4% in the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock valued at $251,778,000 after acquiring an additional 1,348,474 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Canadian Pacific Kansas City by 36.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock valued at $245,403,000 after purchasing an additional 769,202 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Canadian Pacific Kansas City in the third quarter worth about $63,179,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Canadian Pacific Kansas City by 39.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,010,385 shares of the transportation company’s stock worth $172,132,000 after acquiring an additional 565,783 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.