JPMorgan Chase & Co. Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $38.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.18% from the stock’s current price.

CSX has been the topic of a number of other research reports. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Evercore ISI reduced their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Price Performance

NASDAQ:CSX opened at $32.69 on Friday. CSX has a 52-week low of $31.43 and a 52-week high of $40.12. The stock has a fifty day moving average of $33.53 and a 200 day moving average of $33.94. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. On average, research analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently bought and sold shares of the business. Perpetual Ltd bought a new position in shares of CSX during the fourth quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. raised its holdings in CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. FMR LLC lifted its position in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock valued at $62,019,000 after purchasing an additional 1,360,075 shares in the last quarter. Finally, KBC Group NV raised its stake in CSX by 616.4% in the fourth quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after buying an additional 958,957 shares in the last quarter. Hedge funds and other institutional investors 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.