CSX (NASDAQ:CSX) Price Target Raised to $41.00

CSX (NASDAQ:CSX - Get Free Report) had its price target lifted by research analysts at JPMorgan Chase & Co. from $34.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 16.56% from the stock's previous close.

Several other research analysts have also issued reports on the company. Citigroup boosted their target price on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Argus set a $32.00 price objective on shares of CSX in a report on Friday, April 25th. Barclays upped their price target on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday. Finally, TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and upped their price objective for the stock from $32.00 to $45.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.73.

CSX Stock Up 0.6%

CSX stock traded up $0.21 during mid-day trading on Thursday, reaching $35.18. The stock had a trading volume of 15,618,176 shares, compared to its average volume of 15,534,493. The stock's 50-day simple moving average is $32.52 and its 200-day simple moving average is $31.22. The firm has a market capitalization of $66.08 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 3.15 and a beta of 1.23. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. On average, sell-side analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

Several large investors have recently bought and sold shares of CSX. Brighton Jones LLC lifted its position in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after purchasing an additional 849 shares during the period. LPL Financial LLC boosted its holdings in shares of CSX by 7.8% in the 4th quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company's stock valued at $55,250,000 after purchasing an additional 124,615 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of CSX during the 4th quarter valued at $1,087,000. Modern Wealth Management LLC lifted its holdings in CSX by 67.1% in the 4th quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company's stock worth $535,000 after buying an additional 6,495 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of CSX by 7.8% in the 4th quarter. Zions Bancorporation N.A. now owns 7,326 shares of the transportation company's stock worth $236,000 after purchasing an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company's stock.

About CSX

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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