Wells Fargo & Company Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price objective trimmed by Wells Fargo & Company from $36.00 to $34.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Several other research firms have also weighed in on CSX. Stephens reissued an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Loop Capital cut their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

CSX Price Performance

Shares of CSX stock opened at $32.69 on Friday. CSX has a 52 week low of $31.43 and a 52 week high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company’s 50-day moving average price is $33.53 and its two-hundred day moving average price is $33.95.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. abrdn plc raised its holdings in CSX by 10.0% during the fourth quarter. abrdn plc now owns 1,048,530 shares of the transportation company’s stock valued at $33,789,000 after buying an additional 95,510 shares in the last quarter. Trust Point Inc. increased its holdings in shares of CSX by 2.6% during the 4th quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 344 shares during the last quarter. Childress Capital Advisors LLC raised its stake in shares of CSX by 11.1% in the 4th quarter. Childress Capital Advisors LLC now owns 7,488 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 746 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in CSX in the 4th quarter worth approximately $365,000. Finally, Resonant Capital Advisors LLC boosted its position in CSX by 8.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 60,505 shares of the transportation company’s stock worth $1,952,000 after purchasing an additional 4,542 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

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.