CSX (NASDAQ:CSX) Price Target Cut to $40.00 by Analysts at Susquehanna

CSX (NASDAQ:CSX) had its price objective dropped by equities researchers at Susquehanna from $44.00 to $40.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “positive” rating on the transportation company’s stock. Susquehanna’s price target would suggest a potential upside of 20.45% from the stock’s previous close.

A number of other research firms have also recently issued reports on CSX. Wells Fargo & Company began coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective on the stock. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada reduced their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group reduced their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Finally, Bank of America reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.59.

CSX Trading Down 0.6 %

Shares of CSX stock opened at $33.21 on Tuesday. The company has a 50 day moving average of $33.58 and a 200-day moving average of $35.14. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market cap of $64.92 billion, a P/E ratio of 18.25, a PEG ratio of 1.73 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. Sell-side analysts anticipate that CSX will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Several institutional investors have recently added to or reduced their stakes in CSX. Miracle Mile Advisors LLC raised its holdings 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 in the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares during the last quarter. Team Hewins LLC grew its stake in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its holdings in shares of CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

About CSX

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.