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Barclays Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX logo with Transportation background

Key Points

  • Barclays has raised its price target for CSX (NASDAQ:CSX) from $38.00 to $40.00, suggesting a potential upside of 9.29% from its previous close.
  • CSX recently reported quarterly earnings of $0.44 per share, exceeding expectations, although its revenue of $3.59 billion was slightly below analyst predictions.
  • The overall consensus rating for CSX is a "Moderate Buy," with 18 analysts rating it as a Buy and 6 as a Hold.
  • MarketBeat previews the top five stocks to own by November 1st.

CSX (NASDAQ:CSX - Get Free Report) had its price objective increased by equities research analysts at Barclays from $38.00 to $40.00 in a research report issued to clients and investors on Friday,MarketScreener reports. Barclays's price target indicates a potential upside of 9.29% from the company's previous close.

Several other research firms have also recently weighed in on CSX. Weiss Ratings reissued a "hold (c+)" rating on shares of CSX in a research report on Wednesday, October 8th. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective for the company. in a report on Monday, August 18th. Raymond James Financial reiterated an "outperform" rating and issued a $40.00 target price (up from $39.00) on shares of CSX in a research note on Friday. Susquehanna reduced their target price on shares of CSX from $35.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, September 25th. Finally, Citigroup increased their price objective on CSX from $41.00 to $42.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Check Out Our Latest Stock Analysis on CSX

CSX Price Performance

CSX opened at $36.60 on Friday. CSX has a 1 year low of $26.22 and a 1 year high of $37.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The company has a market capitalization of $68.23 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.82 and a beta of 1.29. The firm's fifty day moving average price is $34.34 and its two-hundred day moving average price is $32.42.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion for the quarter, compared to analysts' expectations of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 25.16%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of CSX

Several institutional investors and hedge funds have recently bought and sold shares of CSX. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter worth $25,000. Rossby Financial LCC purchased a new stake in shares of CSX in the 1st quarter valued at about $28,000. WFA of San Diego LLC bought a new stake in shares of CSX during the 2nd quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of CSX during the first quarter worth about $30,000. Finally, Kessler Investment Group LLC bought a new position in shares of CSX in the first quarter worth approximately $32,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

About CSX

(Get Free Report)

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.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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