StockNews.com Downgrades Canadian National Railway (NYSE:CNI) to Hold

Canadian National Railway (NYSE:CNI) (TSE:CNR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price objective on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Barclays boosted their price target on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Finally, Susquehanna upped their target price on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Eighteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Stock Up 1.1 %

CNI opened at $127.25 on Friday. The stock has a market capitalization of $81.27 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The business’s 50-day simple moving average is $128.42 and its 200-day simple moving average is $123.34.

Institutional Investors Weigh In On Canadian National Railway

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Canadian National Railway by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after acquiring an additional 387,975 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. FIL Ltd boosted its holdings in shares of Canadian National Railway by 7.2% during the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares during the period. Finally, TD Asset Management Inc increased its stake in Canadian National Railway by 2.8% in the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after purchasing an additional 314,600 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.