Canadian Pacific Kansas City (NYSE:CP) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks reports.

A number of other research analysts have also issued reports on the stock. Evercore set a $99.00 price target on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Canadian Pacific Kansas City from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 24th. Stephens raised shares of Canadian Pacific Kansas City to a “hold” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.83.

Canadian Pacific Kansas City Stock Up 1.4%

Shares of Canadian Pacific Kansas City stock opened at $91.12 on Monday. The company has a market cap of $79.73 billion, a P/E ratio of 29.30 and a beta of 1.13. Canadian Pacific Kansas City has a 52-week low of $68.42 and a 52-week high of $96.90. The firm’s 50 day moving average price is $89.06 and its 200-day moving average price is $85.64.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Canadian Pacific Kansas City will post 3.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Pacific Kansas City

Several institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Canadian Pacific Kansas City during the second quarter valued at approximately $802,983,000. The Manufacturers Life Insurance Company acquired a new position in Canadian Pacific Kansas City in the second quarter valued at approximately $657,672,000. Legal & General Group Plc purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter worth approximately $604,797,000. Janus Henderson Group PLC boosted its position in Canadian Pacific Kansas City by 9.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,749,527 shares of the transportation company’s stock worth $530,551,000 after purchasing an additional 601,692 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter worth approximately $576,687,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates Canadian Pacific Kansas City (CPKC), a Class I freight railway. The company was created in 2023 through the combination of Canadian Pacific and Kansas City Southern, forming the first single-line railroad connecting Canada, the United States and Mexico.

CPKC transports a broad range of freight, including grain and fertilizers, coal, forest products, automotive goods, energy and chemicals, industrial and consumer products, and intermodal shipments.