CSX (NASDAQ:CSX) had its target price boosted by Raymond James from $81.00 to $84.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 4.87% from the company’s previous close.
CSX has been the subject of several other reports. BMO Capital Markets raised their price target on CSX to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, January 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $93.00 price target (up from $88.00) on shares of CSX in a report on Wednesday. SNS Securities downgraded CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. Finally, Citigroup lifted their target price on CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $76.69.
Shares of NASDAQ:CSX traded up $4.21 during midday trading on Wednesday, hitting $80.10. The company had a trading volume of 2,603,158 shares, compared to its average volume of 3,894,933. CSX has a twelve month low of $56.10 and a twelve month high of $77.15. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34. The stock has a market cap of $61.66 billion, a PE ratio of 20.86, a P/E/G ratio of 1.34 and a beta of 1.29.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. CSX had a return on equity of 24.18% and a net margin of 27.01%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts predict that CSX will post 4.23 earnings per share for the current fiscal year.
CSX declared that its board has initiated a stock buyback program on Wednesday, January 16th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 9.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the transaction, the director now owns 106 shares in the company, valued at approximately $6,891.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.83% of the company’s stock.
Large investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in CSX by 11,871.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock valued at $185,000 after buying an additional 11,390,771 shares in the last quarter. Norges Bank purchased a new stake in CSX in the 4th quarter valued at approximately $463,481,000. CI Investments Inc. acquired a new position in CSX in the 4th quarter valued at $370,449,000. FMR LLC raised its holdings in CSX by 14.1% in the 4th quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after acquiring an additional 2,867,186 shares during the last quarter. Finally, Morgan Stanley raised its holdings in CSX by 38.8% in the 3rd quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock valued at $651,908,000 after acquiring an additional 2,462,931 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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