CSX (NASDAQ:CSX) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered CSX’s price target from $58 to $57 while maintaining an “overweight” rating, implying about 20.14% upside from the prior close.
• Analyst sentiment remains positive overall, with 18 Buy ratings, seven Holds, and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $51.09.
• CSX reported quarterly EPS of $0.54, exceeding estimates of $0.52, while revenue rose 10.1% year over year to $3.94 billion. Shares traded at $47.45, below the 52-week high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $58.00 to $57.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 20.14% from the company's previous close.

A number of other equities analysts have also commented on the company. Bank of America reduced their price objective on CSX from $56.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, September 18th. Citizens Jmp assumed coverage on CSX in a report on Wednesday, July 15th. They issued a "market perform" rating for the company. BMO Capital Markets reiterated a "market perform" rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $59.00 price objective on shares of CSX in a report on Friday, July 24th. Finally, Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.09.

CSX Price Performance

Shares of NASDAQ CSX traded up $0.01 during mid-day trading on Monday, hitting $47.45. 1,853,408 shares of the stock were exchanged, compared to its average volume of 12,559,233. CSX has a twelve month low of $33.63 and a twelve month high of $53.60. The stock's fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $46.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The company has a market cap of $87.89 billion, a P/E ratio of 27.40, a PEG ratio of 2.23 and a beta of 1.21.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.44 EPS. CSX's revenue was up 10.1% compared to the same quarter last year. As a group, analysts forecast that CSX will post 2 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael S. Burns sold 13,000 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company's stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CSX

Several institutional investors have recently added to or reduced their stakes in the stock. Polaris Financial Partners acquired a new position in shares of CSX during the third quarter worth about $44,000. CX Institutional raised its holdings in shares of CSX by 19.7% in the 3rd quarter. CX Institutional now owns 26,098 shares of the transportation company's stock valued at $1,214,000 after purchasing an additional 4,288 shares during the period. Planning Strategies Inc. lifted its position in shares of CSX by 2,222.0% in the third quarter. Planning Strategies Inc. now owns 2,740 shares of the transportation company's stock valued at $128,000 after buying an additional 2,622 shares during the last quarter. Versant Capital Management Inc boosted its position in CSX by 108.4% during the third quarter. Versant Capital Management Inc now owns 5,837 shares of the transportation company's stock worth $271,000 after purchasing an additional 3,036 shares during the period. Finally, QRG Capital Management Inc. grew its stake in CSX by 9.7% in the 2nd quarter. QRG Capital Management Inc. now owns 303,294 shares of the transportation company's stock valued at $14,790,000 after buying an additional 26,779 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

CSX Corporation NASDAQ: CSX is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.

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