Barclays Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price objective dropped by analysts at Barclays from $41.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target points to a potential upside of 22.21% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. TD Cowen dropped their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Evercore ISI lowered their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Susquehanna reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $38.65.

CSX Price Performance

CSX opened at $32.73 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock has a market capitalization of $63.12 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The company’s 50 day simple moving average is $33.82 and its 200-day simple moving average is $33.95. CSX has a one year low of $31.43 and a one year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. Sell-side analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Interval Partners LP increased its stake in shares of CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares during the last quarter. Perpetual Ltd bought a new position in CSX during the fourth quarter worth about $83,301,000. Assenagon Asset Management S.A. increased its position in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares during the last quarter. Bank of Montreal Can raised its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the period. Finally, FMR LLC lifted its position in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.