CSX (NASDAQ:CSX) Price Target Cut to $39.00

CSX (NASDAQ:CSX) had its target price reduced by investment analysts at BMO Capital Markets from $40.00 to $39.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. BMO Capital Markets’ target price indicates a potential upside of 14.30% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CSX. Susquehanna lifted their target price on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Barclays decreased their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of NASDAQ CSX opened at $34.12 on Thursday. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market cap of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The business’s 50 day moving average is $34.02 and its two-hundred day moving average is $33.97. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, equities analysts expect that CSX will post 1.93 EPS for the current year.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of CSX. Western Wealth Management LLC increased its holdings in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC lifted its holdings in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the period. Miracle Mile Advisors LLC boosted its stake in CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after acquiring an additional 303 shares during the last quarter. Team Hewins LLC boosted its stake in CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after acquiring an additional 306 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in CSX by 33.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after acquiring an additional 316 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.