CSX (NASDAQ:CSX) Given New $34.00 Price Target at JPMorgan Chase & Co.

CSX (NASDAQ:CSX - Free Report) had its price target hoisted by JPMorgan Chase & Co. from $31.00 to $34.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the transportation company's stock.

Several other brokerages also recently issued reports on CSX. Robert W. Baird began coverage on shares of CSX in a report on Tuesday, July 1st. They set an "outperform" rating and a $38.00 price target for the company. Evercore ISI lowered their target price on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Bank of America upped their target price on CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Barclays lowered their target price on CSX from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Argus set a $32.00 target price on CSX in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.32.

CSX Price Performance

NASDAQ:CSX traded up $0.34 during trading hours on Tuesday, hitting $33.39. The company's stock had a trading volume of 11,249,481 shares, compared to its average volume of 13,325,821. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. The company has a market capitalization of $62.72 billion, a P/E ratio of 19.33, a PEG ratio of 2.90 and a beta of 1.23. CSX has a twelve month low of $26.22 and a twelve month high of $37.10. The stock has a fifty day simple moving average of $31.30 and a 200-day simple moving average of $31.06.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. CSX's dividend payout ratio is currently 31.14%.

Institutional Trading of CSX

Several hedge funds have recently modified their holdings of the stock. Somerset Trust Co bought a new stake in CSX in the 2nd quarter valued at about $208,000. Modern Wealth Management LLC increased its position in CSX by 9.8% in the 1st quarter. Modern Wealth Management LLC now owns 17,518 shares of the transportation company's stock valued at $516,000 after buying an additional 1,564 shares in the last quarter. Strs Ohio bought a new stake in CSX in the 1st quarter valued at about $29,614,000. Foresight Group Ltd Liability Partnership bought a new stake in CSX in the 1st quarter valued at about $1,504,000. Finally, Jacobi Capital Management LLC increased its position in CSX by 9.7% in the 1st quarter. Jacobi Capital Management LLC now owns 43,356 shares of the transportation company's stock valued at $1,276,000 after buying an additional 3,834 shares in the last quarter. 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.