CSX (NASDAQ:CSX) Given New $37.00 Price Target at Susquehanna

CSX (NASDAQ:CSX) had its price objective dropped by stock analysts at Susquehanna from $39.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential upside of 24.60% from the company’s current price.

Several other equities research analysts have also commented on CSX. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Barclays decreased their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Robert W. Baird reduced their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Price Performance

Shares of CSX stock traded down $0.21 during mid-day trading on Thursday, hitting $29.70. 1,393,508 shares of the stock were exchanged, compared to its average volume of 11,700,186. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX has a 52-week low of $28.98 and a 52-week high of $37.18. The firm has a fifty day moving average of $31.88 and a 200 day moving average of $33.26. The company has a market cap of $56.26 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

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 return on equity of 28.15% and a net margin of 23.95%. Research analysts anticipate that CSX will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On CSX

Several institutional investors have recently added to or reduced their stakes in CSX. Larson Financial Group LLC grew its position in CSX by 20.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after buying an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of CSX by 4.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,679,505 shares of the transportation company’s stock worth $92,523,000 after acquiring an additional 109,422 shares during the period. FMR LLC boosted its holdings in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of CSX during the third quarter worth about $66,000. Finally, Townsquare Capital LLC raised its holdings in CSX by 8.2% during the third quarter. Townsquare Capital LLC now owns 221,010 shares of the transportation company’s stock worth $7,631,000 after purchasing an additional 16,772 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.