CSX (NASDAQ:CSX) Price Target Raised to $40.00 at TD Cowen

CSX (NASDAQ:CSX) had its price target boosted by analysts at TD Cowen from $39.00 to $40.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target indicates a potential upside of 10.19% from the stock’s previous close.

Several other research firms have also weighed in on CSX. Bank of America reduced their price objective on CSX from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Wall Street Zen upgraded CSX from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of CSX in a research note on Monday, December 29th. UBS Group set a $45.00 price objective on shares of CSX and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $40.00 target price (up from $39.00) on shares of CSX in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.13.

CSX Price Performance

Shares of CSX traded up $0.12 during mid-day trading on Monday, hitting $36.30. The company’s stock had a trading volume of 11,665,039 shares, compared to its average volume of 14,969,737. The firm has a 50-day moving average price of $35.74 and a 200 day moving average price of $34.99. The stock has a market capitalization of $67.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.81 and a beta of 1.30. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.85 and a quick ratio of 0.71. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.54.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. On average, research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Insider Activity at CSX

In other news, CEO Stephen F. Angel acquired 55,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average price of $36.87 per share, for a total transaction of $2,027,850.00. Following the completion of the acquisition, the chief executive officer owned 58,234 shares of the company’s stock, valued at approximately $2,147,087.58. This represents a 1,700.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin S. Boone sold 31,053 shares of CSX stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the completion of the sale, the executive vice president owned 197,521 shares of the company’s stock, valued at $7,128,532.89. This trade represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSX

Institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its position in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares during the period. Miller Howard Investments Inc. NY increased its position in CSX by 8.4% during the second quarter. Miller Howard Investments Inc. NY now owns 204,640 shares of the transportation company’s stock worth $6,677,000 after acquiring an additional 15,939 shares during the period. Farther Finance Advisors LLC increased its position in CSX by 89.0% during the second quarter. Farther Finance Advisors LLC now owns 26,745 shares of the transportation company’s stock worth $873,000 after acquiring an additional 12,591 shares during the period. GAMMA Investing LLC raised its stake in CSX by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 42,806 shares of the transportation company’s stock valued at $1,397,000 after purchasing an additional 6,896 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in CSX by 39.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 42,098 shares of the transportation company’s stock valued at $1,374,000 after purchasing an additional 12,016 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.