Barclays Lowers CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price objective reduced by Barclays from $40.00 to $38.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Several other brokerages have also commented on CSX. Citigroup dropped their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Stephens reduced their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Robert W. Baird dropped their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Stock Down 2.9 %

CSX stock opened at $32.69 on Friday. The business’s 50-day moving average price is $33.53 and its 200 day moving average price is $33.95. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The firm has a market cap of $63.04 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. CSX has a 52 week low of $31.43 and a 52 week high of $40.12.

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

Hedge Funds Weigh In On CSX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Perpetual Ltd acquired a new position in shares of CSX during the 4th quarter valued at about $83,301,000. Assenagon Asset Management S.A. raised its stake 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 purchasing an additional 2,489,329 shares during the period. FMR LLC raised its stake in CSX by 10.2% during the third 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 holdings in CSX by 275.3% in 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 during the last quarter. Finally, KBC Group NV grew its stake in shares of CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after buying an additional 958,957 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.