BMO Capital Markets Lowers CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price target decreased by BMO Capital Markets from $40.00 to $38.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 16.24% from the company’s previous close.

CSX has been the subject of a number of other research reports. Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus decreased their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. TD Cowen lowered their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Finally, Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Stock Performance

Shares of NASDAQ CSX opened at $32.69 on Friday. The stock’s fifty day simple moving average is $33.53 and its 200 day simple moving average is $33.94. The stock has a market capitalization of $63.04 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. 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 has a 52-week low of $31.43 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after acquiring an additional 80,423 shares during the last quarter. Diversified Trust Co grew its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the period. Carnegie Investment Counsel raised its position in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after buying an additional 8,474 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after buying an additional 77,488 shares during the period. 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.