CSX (NASDAQ:CSX) Given New $40.00 Price Target at Barclays

CSX (NASDAQ:CSX) had its price objective decreased by Barclays from $41.00 to $40.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on CSX. 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. Jefferies Financial Group raised 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. Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Stephens lowered their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.65.

CSX Price Performance

Shares of CSX stock opened at $32.73 on Friday. The firm’s 50-day moving average is $33.89 and its two-hundred day moving average is $33.96. CSX has a 12 month low of $31.43 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The company has a market capitalization of $63.12 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its 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). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts predict that CSX will post 1.83 earnings per share for the current year.

Institutional Trading of CSX

Hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC raised its position in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after buying an additional 293 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after purchasing an additional 306 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 306 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in CSX by 0.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares in the last quarter. Finally, Associated Banc Corp boosted its holdings in CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares in the last quarter. 73.57% of the stock is 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.