Canadian Pacific Railway Ltd (NYSE:CP) Sees Large Increase in Short Interest

Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 738,000 shares, an increase of 22.6% from the September 30th total of 602,200 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 426,800 shares, the days-to-cover ratio is presently 1.7 days.

CP has been the subject of several recent analyst reports. Credit Suisse Group increased their price objective on shares of Canadian Pacific Railway from $262.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. ValuEngine cut shares of Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. National Bank Financial decreased their price objective on shares of Canadian Pacific Railway from $328.00 to $322.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Loop Capital upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, UBS Group decreased their price objective on shares of Canadian Pacific Railway from $349.00 to $346.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $272.12.

A number of large investors have recently bought and sold shares of CP. KCS Wealth Advisory bought a new position in shares of Canadian Pacific Railway in the third quarter valued at $36,000. Liberty Wealth Management LLC lifted its stake in shares of Canadian Pacific Railway by 287.8% in the second quarter. Liberty Wealth Management LLC now owns 159 shares of the transportation company’s stock valued at $37,000 after buying an additional 118 shares in the last quarter. Institutional & Family Asset Management LLC lifted its stake in shares of Canadian Pacific Railway by 33.3% in the second quarter. Institutional & Family Asset Management LLC now owns 240 shares of the transportation company’s stock valued at $56,000 after buying an additional 60 shares in the last quarter. Clear Perspective Advisors LLC bought a new position in shares of Canadian Pacific Railway in the second quarter valued at $65,000. Finally, First Interstate Bank bought a new position in shares of Canadian Pacific Railway in the third quarter valued at $67,000. Institutional investors and hedge funds own 69.47% of the company’s stock.

NYSE:CP traded up $0.79 during trading hours on Thursday, reaching $239.04. The company had a trading volume of 269,856 shares, compared to its average volume of 440,637. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.15. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.70 and a beta of 1.11. The business’s 50-day simple moving average is $223.01 and its two-hundred day simple moving average is $230.10. Canadian Pacific Railway has a twelve month low of $167.48 and a twelve month high of $247.52.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $4.61 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $1.20. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Canadian Pacific Railway had a net margin of 30.02% and a return on equity of 32.62%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $4.12 earnings per share. As a group, equities analysts predict that Canadian Pacific Railway will post 12.43 earnings per share for the current year.

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 energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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