CSX (NASDAQ:CSX) Price Target Raised to $43.00 at Wolfe Research

Key Points

• Wolfe Research has raised its price target for CSX from $40.00 to $43.00, indicating a potential upside of 19.48% from the current stock price.
• Other firms, including Wells Fargo and Raymond James, have also upgraded their ratings and price targets for CSX, reflecting increased confidence in the company’s performance.
• CSX's latest quarterly earnings showed a net margin of 21.92%, with earnings per share beating expectations at $0.44, although revenue declined 3.5% year-over-year.

CSX (NASDAQ:CSX - Get Free Report) had its price objective upped by analysts at Wolfe Research from $40.00 to $43.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the transportation company's stock. Wolfe Research's price target points to a potential upside of 19.48% from the stock's current price.

A number of other research firms have also recently issued reports on CSX. Wells Fargo & Company upgraded shares of CSX from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $37.00 to $40.00 in a research note on Thursday, September 25th. Raymond James Financial raised their price objective on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded CSX from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Jefferies Financial Group reissued a "buy" rating on shares of CSX in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. reduced their price target on CSX from $41.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and an average target price of $38.26.

CSX Stock Performance

Shares of NASDAQ CSX opened at $35.99 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $67.10 billion, a P/E ratio of 22.22, a P/E/G ratio of 2.82 and a beta of 1.29. CSX has a 12 month low of $26.22 and a 12 month high of $37.25. The stock has a 50 day moving average of $34.25 and a 200-day moving average of $32.08.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm posted $0.49 EPS. The company's quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts predict that CSX will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in CSX during the second quarter worth about $25,000. Rossby Financial LCC acquired a new stake in shares of CSX during the 1st quarter worth approximately $28,000. WFA of San Diego LLC bought a new position in CSX in the second quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX in the first quarter valued at approximately $30,000. Finally, Kessler Investment Group LLC acquired a new position in CSX during the first quarter valued at approximately $32,000. Institutional investors and hedge funds 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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