CSX (NASDAQ:CSX) Price Target Cut to $37.00

CSX (NASDAQ:CSX) had its target price reduced by analysts at Evercore ISI from $38.00 to $37.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s target price points to a potential upside of 8.44% from the company’s previous close.

CSX has been the subject of several other reports. BMO Capital Markets restated an “outperform” rating and set a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Citigroup began coverage on CSX in a research report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

Shares of NASDAQ:CSX opened at $34.12 on Thursday. The firm has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The business’s 50 day simple moving average is $34.02 and its 200-day simple moving average is $33.97. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

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

Institutional Trading of CSX

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP lifted its position in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after acquiring an additional 1,060,617 shares in the last quarter. Bank of Montreal Can boosted its holdings in CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after acquiring an additional 1,884,998 shares during the period. Finally, Interval Partners LP grew its position in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.