CSX (NASDAQ:CSX) PT Lowered to $34.00

CSX (NASDAQ:CSX) had its price objective reduced by analysts at Wells Fargo & Company from $35.00 to $34.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 1.74% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Citigroup began coverage on shares of CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target for the company. Finally, Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

NASDAQ:CSX traded down $2.05 during trading hours on Thursday, reaching $33.42. 12,095,119 shares of the company were exchanged, compared to its average volume of 11,501,157. The company has a market capitalization of $65.33 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The business has a 50 day moving average of $34.05 and a 200 day moving average of $33.99. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that CSX will post 1.93 EPS for the current year.

Institutional Trading of CSX

Several institutional investors and hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC lifted its position in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC lifted its holdings in shares of CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after acquiring an additional 300 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC grew its holdings in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in CSX by 33.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock worth $43,000 after purchasing an additional 316 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.