Royal Bank of Canada Issues Positive Forecast for Canadian Pacific Kansas City (TSE:CP) Stock Price

Canadian Pacific Kansas City (TSE:CP) (NYSE:CP) had its target price lifted by stock analysts at Royal Bank of Canada from C$124.00 to C$128.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 8.95% from the stock’s previous close.

Several other equities analysts have also commented on CP. Sanford C. Bernstein lowered their price objective on shares of Canadian Pacific Kansas City from C$126.00 to C$125.00 in a research report on Wednesday, October 9th. Citigroup set a C$97.00 target price on Canadian Pacific Kansas City and gave the stock a “buy” rating in a report on Wednesday, October 9th. Desjardins lowered their price target on Canadian Pacific Kansas City from C$132.00 to C$131.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Canadian Pacific Kansas City from C$136.00 to C$137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, National Bankshares lifted their price target on shares of Canadian Pacific Kansas City from C$107.00 to C$119.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$124.07.

Canadian Pacific Kansas City Price Performance

CP traded up C$3.85 on Thursday, hitting C$117.49. 671,805 shares of the company’s stock traded hands, compared to its average volume of 1,303,778. Canadian Pacific Kansas City has a one year low of C$101.76 and a one year high of C$123.37. The company has a current ratio of 0.51, a quick ratio of 0.42 and a debt-to-equity ratio of 50.47. The firm has a market cap of C$109.63 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 2.32 and a beta of 0.79. The company’s 50 day simple moving average is C$107.39 and its 200-day simple moving average is C$109.87.

Insider Buying and Selling at Canadian Pacific Kansas City

In related news, Senior Officer James Dominic Luther Clements sold 15,657 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$106.30, for a total value of C$1,664,359.45. Also, Senior Officer Maeghan Dawn Albiston sold 2,900 shares of Canadian Pacific Kansas City stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$106.10, for a total transaction of C$307,694.64. Insiders have sold 70,284 shares of company stock worth $7,398,669 over the last quarter. Insiders own 0.03% 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.