Canadian Pacific Railway (CP) Hits New 1-Year High on Analyst Upgrade

Share on StockTwits

Shares of Canadian Pacific Railway Limited (TSE:CP) (NYSE:CP) reached a new 52-week high on Thursday after BMO Capital Markets raised their price target on the stock from C$270.00 to C$295.00. The company traded as high as C$277.25 and last traded at C$276.73, with a volume of 65150 shares. The stock had previously closed at C$274.06.

A number of other brokerages also recently issued reports on CP. National Bank Financial upped their price target on Canadian Pacific Railway from C$260.00 to C$266.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 24th. Cormark raised Canadian Pacific Railway from a “market perform” rating to a “c$254.60” rating and upped their price target for the stock from C$230.00 to C$275.00 in a research report on Thursday, July 19th. Cowen reduced their price target on Canadian Pacific Railway from C$229.00 to C$225.00 and set a “c$254.60” rating on the stock in a research report on Thursday, July 19th. Desjardins upped their price target on Canadian Pacific Railway from C$259.00 to C$274.00 and gave the stock a “c$254.60” rating in a research report on Thursday, July 19th. Finally, UBS Group upped their price target on Canadian Pacific Railway from C$265.00 to C$283.00 and gave the stock a “c$254.60” rating in a research report on Thursday, July 19th. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Canadian Pacific Railway presently has a consensus rating of “Buy” and a consensus price target of C$264.87.

In related news, insider Jeffrey Ellis sold 100 shares of the company’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of C$252.74, for a total value of C$25,274.00. Also, insider Laird Joseph Pitz sold 700 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of C$269.66, for a total value of C$188,762.00. Over the last ninety days, insiders have sold 2,264 shares of company stock worth $605,070.

Canadian Pacific Railway (TSE:CP) (NYSE:CP) last announced its quarterly earnings results on Wednesday, July 18th. The company reported C$3.16 earnings per share for the quarter, topping the consensus estimate of C$3.12 by C$0.04. The company had revenue of C$1.75 billion for the quarter, compared to the consensus estimate of C$1.74 billion. Canadian Pacific Railway had a return on equity of 101.93% and a net margin of 89.03%.

About Canadian Pacific Railway (TSE:CP)

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.

Recommended Story: Growth Stocks, What They Are, What They Are Not

Receive News & Ratings for Canadian Pacific Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply