Canadian Imperial Bank of Commerce Cuts Capital Power (TSE:CPX) Price Target to C$83.00

Capital Power (TSE:CPX) had its target price cut by Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

A number of other research analysts have also recently weighed in on the company. National Bank Financial lifted their target price on Capital Power from C$75.00 to C$82.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Wells Fargo & Company raised their price objective on Capital Power from C$72.00 to C$75.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. BMO Capital Markets boosted their target price on Capital Power from C$75.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Desjardins increased their target price on shares of Capital Power from C$82.00 to C$88.00 and gave the stock a “top pick” rating in a research report on Friday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$80.11.

Capital Power Stock Performance

Shares of CPX stock opened at C$65.87 on Thursday. The company has a debt-to-equity ratio of 150.64, a quick ratio of 0.55 and a current ratio of 0.80. The firm has a market capitalization of C$10.31 billion, a price-to-earnings ratio of -598.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. Capital Power has a one year low of C$56.08 and a one year high of C$77.02. The company has a 50 day moving average price of C$71.92 and a 200 day moving average price of C$66.25.

Capital Power (TSE:CPX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($0.33) earnings per share for the quarter. Capital Power had a net margin of 3.05% and a return on equity of 2.31%. The company had revenue of C$714.00 million during the quarter. Sell-side analysts anticipate that Capital Power will post 2.8197088 EPS for the current year.

Insider Buying and Selling

In other Capital Power news, insider Jason Daniel Comandante sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$74.88, for a total transaction of C$112,320.00. Following the transaction, the insider owned 8,711 shares in the company, valued at C$652,279.68. The trade was a 14.69% decrease in their ownership of the stock. 0.17% of the stock is owned by company insiders.

About Capital Power

Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 12 GW of power generation at 32 facilities, plus battery energy storage across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building lower-carbon power systems, and creating balanced solutions for our energy future.