Wells Fargo & Company Lowers Canadian National Railway (NYSE:CNI) Price Target to $125.00

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its target price dropped by stock analysts at Wells Fargo & Company from $133.00 to $125.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 21.99% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group cut their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Finally, Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.48.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $102.47 on Tuesday. Canadian National Railway has a 12 month low of $98.96 and a 12 month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market cap of $64.47 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The business has a fifty day simple moving average of $106.69 and a 200-day simple moving average of $112.70.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian National Railway

Several hedge funds and other institutional investors have recently made changes to their positions in CNI. Fortitude Family Office LLC grew its holdings in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Canadian National Railway in the third quarter valued at approximately $34,000. Reston Wealth Management LLC acquired a new stake in shares of Canadian National Railway in the third quarter worth $41,000. Sanctuary Wealth Management L.L.C. bought a new position in Canadian National Railway during the third quarter worth $56,000. Finally, Grove Bank & Trust raised its stake in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 97 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.