CSX (NASDAQ:CSX) Price Target Cut to $35.00 by Analysts at Barclays

CSX (NASDAQ:CSX) had its price target dropped by Barclays from $38.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target points to a potential upside of 18.70% from the company’s previous close.

Several other analysts have also recently commented on CSX. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. BMO Capital Markets decreased their price target on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Finally, Susquehanna lowered their price target on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.60.

CSX Stock Performance

CSX opened at $29.49 on Wednesday. CSX has a fifty-two week low of $28.98 and a fifty-two week high of $37.10. The firm has a market cap of $55.57 billion, a PE ratio of 16.47, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business has a fifty day simple moving average of $31.61 and a 200-day simple moving average of $33.14.

CSX (NASDAQ:CSX) last issued 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 23.95% and a return on equity of 28.15%. As a group, equities analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co increased its position in shares of CSX by 180.7% during 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 in the last quarter. Marshall Financial Group LLC bought a new stake in CSX during the 4th quarter worth approximately $1,084,000. Carnegie Investment Counsel increased its holdings in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in CSX by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC boosted its stake in CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after purchasing an additional 40,611 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

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.