Barclays Reaffirms Buy Rating for Canadian Pacific Railway (CP)
Canadian Pacific Railway (NYSE:CP) (TSE:CP)‘s stock had its “buy” rating reissued by investment analysts at Barclays in a research note issued on Wednesday. They presently have a $235.00 price objective on the transportation company’s stock. Barclays’ price objective would indicate a potential upside of 11.52% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded Canadian Pacific Railway from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Argus increased their target price on Canadian Pacific Railway from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Deutsche Bank cut Canadian Pacific Railway to a “buy” rating in a report on Monday, July 9th. Seaport Global Securities restated a “buy” rating and set a $205.00 target price on shares of Canadian Pacific Railway in a report on Monday, June 25th. Finally, Loop Capital restated a “buy” rating on shares of Canadian Pacific Railway in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $218.90.
Shares of Canadian Pacific Railway stock opened at $210.72 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.57. The stock has a market cap of $29.84 billion, a PE ratio of 24.00, a PEG ratio of 1.76 and a beta of 1.08. Canadian Pacific Railway has a 12 month low of $164.01 and a 12 month high of $211.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CP. Egerton Capital UK LLP lifted its holdings in Canadian Pacific Railway by 24.4% in the 2nd quarter. Egerton Capital UK LLP now owns 2,792,805 shares of the transportation company’s stock worth $511,139,000 after buying an additional 548,467 shares during the period. Toronto Dominion Bank lifted its holdings in Canadian Pacific Railway by 79.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,034,315 shares of the transportation company’s stock worth $187,564,000 after buying an additional 457,885 shares during the period. UBS Group AG lifted its holdings in Canadian Pacific Railway by 234.5% in the 1st quarter. UBS Group AG now owns 155,729 shares of the transportation company’s stock worth $27,487,000 after buying an additional 271,502 shares during the period. Addenda Capital Inc. purchased a new stake in Canadian Pacific Railway in the 2nd quarter worth approximately $41,368,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Canadian Pacific Railway in the 1st quarter worth approximately $38,708,000. Institutional investors and hedge funds own 65.08% of the company’s stock.
About Canadian Pacific Railway
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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.
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