CSX (NASDAQ:CSX) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for CSX from $41.00 to $40.00, while maintaining an "overweight" rating, indicating an expected upside of 11.14% from the current stock price.
• Multiple firms have recently updated their ratings and targets for CSX, with Deutsche Bank upgrading the stock to "buy" with a price target of $40.00 and Bank of America also setting the target at $40.00.
• The consensus rating for CSX remains a "Moderate Buy" with a consensus target price of $38.26, as analysts expect the company to report an EPS of 1.83 for the current fiscal year.

CSX (NASDAQ:CSX - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $41.00 to $40.00 in a research report issued on Wednesday,MarketScreener 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 11.14% from the stock's current price.

Several other research firms have also commented on CSX. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Thursday, July 24th. Bank of America lowered their price target on shares of CSX from $42.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. Citigroup boosted their price objective on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised CSX from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $37.00 to $40.00 in a research note on Thursday, September 25th. Finally, Benchmark lifted their target price on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.26.

CSX Price Performance

Shares of CSX stock opened at $35.99 on Wednesday. The firm has a market cap of $67.10 billion, a PE ratio of 22.22, a PEG ratio of 2.82 and a beta of 1.29. The stock has a 50 day moving average of $34.25 and a 200 day moving average of $32.08. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX has a 12 month low of $26.22 and a 12 month high of $37.25.

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

Institutional Trading of CSX

A number of large investors have recently made changes to their positions in the stock. Old Port Advisors bought a new position in shares of CSX in the third quarter worth about $307,000. Heartwood Wealth Advisors LLC purchased a new stake in CSX in the 3rd quarter valued at about $213,000. GAMMA Investing LLC grew its stake in CSX by 8.7% in the 3rd quarter. GAMMA Investing LLC now owns 46,528 shares of the transportation company's stock worth $1,652,000 after acquiring an additional 3,722 shares in the last quarter. Praxis Investment Management Inc. increased its position in shares of CSX by 34.8% during the third quarter. Praxis Investment Management Inc. now owns 29,639 shares of the transportation company's stock worth $1,052,000 after acquiring an additional 7,649 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company's stock valued at $13,242,000 after acquiring an additional 3,162 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.

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