CSX (NASDAQ:CSX) Price Target Raised to $38.00

CSX (NASDAQ:CSX - Get Free Report) had its target price raised by equities research analysts at Citigroup from $36.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Citigroup's price target points to a potential upside of 14.13% from the company's current price.

Several other research analysts have also recently commented on CSX. UBS Group lowered their target price on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets lowered their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a report on Tuesday. Finally, Royal Bank Of Canada reduced their target price on CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.41.

CSX Trading Down 0.3%

Shares of CSX stock traded down $0.10 during trading hours on Wednesday, hitting $33.30. 5,299,266 shares of the company were exchanged, compared to its average volume of 13,297,433. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The company has a 50 day simple moving average of $31.41 and a two-hundred day simple moving average of $31.08. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market cap of $62.55 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.90 and a beta of 1.23.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. 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. Bank of New York Mellon Corp raised its holdings in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Invesco Ltd. grew its stake in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock worth $810,076,000 after acquiring an additional 2,977,212 shares during the last quarter. Norges Bank purchased a new stake in CSX in the fourth quarter valued at approximately $780,194,000. Finally, Ameriprise Financial Inc. boosted its position in CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after purchasing an additional 2,599,518 shares in the last quarter. 73.57% of the stock is owned by 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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