Versant Capital Management Inc Buys 1,507 Shares of CSX Co. (NASDAQ:CSX)

Versant Capital Management Inc boosted its stake in CSX Co. (NASDAQ:CSX) by 99.1% during the fourth quarter, HoldingsChannel reports. The firm owned 3,028 shares of the transportation company’s stock after buying an additional 1,507 shares during the period. Versant Capital Management Inc’s holdings in CSX were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of CSX during the 2nd quarter worth $26,000. Valley Wealth Managers Inc. increased its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in CSX during the third quarter valued at about $31,000. Fairscale Capital LLC bought a new stake in CSX during the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of CSX in the 2nd quarter worth about $33,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CSX shares. Royal Bank of Canada cut their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Citigroup raised their price objective on CSX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Barclays raised their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Stock Performance

Shares of CSX opened at $32.34 on Friday. The business has a 50-day simple moving average of $34.23 and a two-hundred day simple moving average of $34.02. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX Co. has a 52 week low of $31.43 and a 52 week high of $40.12. The stock has a market cap of $62.37 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.22.

CSX (NASDAQ:CSX) last released 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). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. On average, analysts expect that CSX Co. will post 1.84 EPS for the current year.

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.