Bank of America Raises CSX (NASDAQ:CSX) Price Target to $35.00

CSX (NASDAQ:CSX - Free Report) had its target price boosted by Bank of America from $33.00 to $35.00 in a report released on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company's stock.

Several other research analysts also recently commented on the stock. UBS Group decreased their price target on shares of CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Susquehanna decreased their price target on shares of CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research note on Thursday, April 17th. Benchmark reissued a "buy" rating and set a $35.00 price target on shares of CSX in a research note on Thursday, April 17th. Evercore ISI decreased their price target on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays decreased their target price on shares of CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.14.

CSX Price Performance

Shares of CSX stock traded down $0.27 on Friday, hitting $32.12. 9,032,692 shares of the company traded hands, compared to its average volume of 13,250,493. The firm's 50-day simple moving average is $29.73 and its 200 day simple moving average is $31.24. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market cap of $60.34 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.92 and a beta of 1.24. CSX has a 12-month low of $26.22 and a 12-month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is currently 31.14%.

Institutional Trading of CSX

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock worth $3,794,000 after purchasing an additional 15,029 shares in the last quarter. Waycross Partners LLC lifted its stake in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock valued at $19,990,000 after acquiring an additional 40,611 shares during the period. Cercano Management LLC bought a new position in shares of CSX in the 4th quarter worth approximately $4,869,000. Geode Capital Management LLC lifted its stake in shares of CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of CSX by 6.4% in the 4th quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company's stock worth $869,000 after purchasing an additional 1,614 shares during the period. Institutional investors 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.