Royal Bank Of Canada Lowers CSX (NASDAQ:CSX) Price Target to $53.00

Key Points

• Royal Bank of Canada lowered CSX’s price target from $54 to $53 while maintaining an “outperform” rating, implying approximately 12.3% upside from the stock’s $47.19 price.
• Analyst sentiment remains positive: 18 analysts rate CSX a Buy, seven recommend Hold and one rates it Sell, resulting in a “Moderate Buy” consensus and a $51.24 average target price.
• CSX exceeded quarterly expectations, reporting $0.54 in earnings per share and $3.94 billion in revenue, with revenue up 10.1% year over year.

CSX (NASDAQ:CSX - Get Free Report) had its target price cut by research analysts at Royal Bank Of Canada from $54.00 to $53.00 in a report released on Thursday. The brokerage presently has an "outperform" rating on the transportation company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 12.31% from the stock's current price.

Several other equities research analysts also recently commented on CSX. Susquehanna upgraded shares of CSX from a "neutral" rating to a "positive" rating and boosted their target price for the company from $50.00 to $58.00 in a research note on Tuesday, July 14th. Stephens began coverage on CSX in a report on Wednesday, July 8th. They issued an "overweight" rating and a $57.00 target price on the stock. Argus set a $56.00 target price on shares of CSX in a research note on Friday, July 31st. Truist Financial set a $46.00 price target on shares of CSX in a research note on Friday, July 10th. Finally, Raymond James Financial restated an "outperform" rating and issued a $56.00 price objective on shares of CSX in a research report on Monday, July 13th. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $51.24.

CSX Stock Performance

NASDAQ:CSX opened at $47.19 on Thursday. CSX has a 12-month low of $33.46 and a 12-month high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $87.42 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21. The firm has a 50-day moving average price of $49.96 and a 200 day moving average price of $46.44.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company 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 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that CSX will post 2 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of CSX in the second quarter valued at about $7,655,277,000. XXEC Inc. acquired a new stake in CSX in the second quarter valued at $765,595,000. Bank of America Corp DE bought a new position in shares of CSX in the 2nd quarter valued at about $1,598,962,000. Bank of New York Mellon Corp acquired a new position in shares of CSX during the 2nd quarter worth about $950,325,000. Finally, Legal & General Group Plc bought a new stake in shares of CSX in the 2nd quarter valued at about $747,001,000. Institutional investors own 73.57% of the company's stock.

CSX Company Profile

CSX Corporation NASDAQ: CSX is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.

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