Robert W. Baird Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price target trimmed by Robert W. Baird from $39.00 to $38.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also recently commented on CSX. Evercore ISI reduced 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. Loop Capital reduced their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Stephens lowered their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus cut their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report 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, the stock has an average rating of “Moderate Buy” and an average target price of $37.68.

CSX Stock Down 2.9 %

CSX stock opened at $32.69 on Friday. The company has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a 50-day simple moving average of $33.53 and a 200-day simple moving average of $33.95.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. Equities research analysts expect that CSX will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of CSX by 69.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock worth $2,495,000 after purchasing an additional 30,531 shares during the period. Squarepoint Ops LLC lifted its position in CSX by 300.9% during the second quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock valued at $18,007,000 after buying an additional 404,037 shares in the last quarter. AlTi Global Inc. grew its stake in CSX by 5.2% during the second quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock worth $230,000 after buying an additional 342 shares during the period. Daymark Wealth Partners LLC increased its position in shares of CSX by 9.6% in the second quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock worth $1,092,000 after acquiring an additional 2,860 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of CSX in the 2nd quarter valued at $221,000. 73.57% of the stock is currently 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.