Canadian Pacific Railway (NYSE:CP) PT Raised to $345.00 at Bank of America

Canadian Pacific Railway (NYSE:CP) (TSE:CP) had its price target raised by research analysts at Bank of America from $309.00 to $345.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 12.08% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Scotiabank raised their target price on Canadian Pacific Railway from $384.00 to $395.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Citigroup upped their target price on Canadian Pacific Railway from $215.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. TD Securities raised their price target on shares of Canadian Pacific Railway from $395.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Canadian Pacific Railway from $401.00 to $408.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, UBS Group raised their target price on shares of Canadian Pacific Railway from $341.00 to $387.00 and gave the stock a “buy” rating in a report on Friday, June 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $330.52.

CP opened at $307.81 on Wednesday. The company has a market cap of $41.39 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average price is $290.59 and its 200-day moving average price is $251.09. Canadian Pacific Railway has a 52-week low of $173.26 and a 52-week high of $312.59.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $4.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.75 by $1.32. Canadian Pacific Railway had a net margin of 29.48% and a return on equity of 34.28%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $4.30 EPS. Canadian Pacific Railway’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, research analysts anticipate that Canadian Pacific Railway will post 13.08 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in Canadian Pacific Railway by 8.3% during the 2nd quarter. CWM LLC now owns 642 shares of the transportation company’s stock worth $164,000 after acquiring an additional 49 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Canadian Pacific Railway by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,371 shares of the transportation company’s stock valued at $521,000 after purchasing an additional 50 shares during the last quarter. FDx Advisors Inc. boosted its position in shares of Canadian Pacific Railway by 1.2% in the 1st quarter. FDx Advisors Inc. now owns 4,448 shares of the transportation company’s stock valued at $977,000 after purchasing an additional 51 shares during the period. Ballast Advisors LLC grew its stake in Canadian Pacific Railway by 3.5% during the 2nd quarter. Ballast Advisors LLC now owns 2,369 shares of the transportation company’s stock worth $605,000 after buying an additional 80 shares during the last quarter. Finally, Okabena Investment Services Inc. lifted its stake in Canadian Pacific Railway by 1.3% in the second quarter. Okabena Investment Services Inc. now owns 6,390 shares of the transportation company’s stock valued at $1,632,000 after buying an additional 82 shares during the last quarter. 71.68% of the stock is currently owned by institutional investors.

Canadian Pacific Railway Company Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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Analyst Recommendations for Canadian Pacific Railway (NYSE:CP)

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