CSX (NASDAQ:CSX) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• CSX has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The stock currently has an average rating of "Moderate Buy" with a consensus price target of $37.95, despite mixed reviews from various analysts.
• In midday trading, CSX's shares rose to $36.01, following a report of earnings that slightly exceeded expectations but revealed a year-over-year revenue decline of 3.5%.

CSX (NASDAQ:CSX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Several other analysts have also recently issued reports on CSX. Evercore ISI decreased their target price on shares of CSX from $39.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. Baird R W upgraded shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Thursday, July 24th. Barclays increased their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and increased their price objective for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.95.

CSX Price Performance

Shares of CSX traded up $0.44 during midday trading on Friday, hitting $36.01. 13,726,837 shares of the company traded hands, compared to its average volume of 16,064,114. The firm has a 50 day moving average of $34.23 and a 200-day moving average of $31.98. CSX has a 52 week low of $26.22 and a 52 week high of $37.25. The stock has a market cap of $67.13 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.75 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business's revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

Several institutional investors have recently bought and sold shares of CSX. Brighton Jones LLC raised its holdings in shares of CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after buying an additional 849 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of CSX by 94,100.0% in the first quarter. NBC Securities Inc. now owns 6,594 shares of the transportation company's stock worth $194,000 after buying an additional 6,587 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of CSX by 25.0% in the first quarter. Merit Financial Group LLC now owns 32,091 shares of the transportation company's stock worth $944,000 after buying an additional 6,427 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of CSX in the first quarter worth $555,000. Finally, Ullmann Wealth Partners Group LLC raised its holdings in shares of CSX by 1.3% in the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after buying an additional 363 shares during the last quarter. 73.57% 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; 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.