CSX (NASDAQ:CSX) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of CSX (NASDAQ:CSX - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $40.00 price target on the transportation company's stock.

Other analysts have also issued reports about the stock. Robert W. Baird initiated coverage on shares of CSX in a report on Tuesday, July 1st. They set an "outperform" rating and a $38.00 target price for the company. The Goldman Sachs Group restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a report on Monday, June 2nd. Susquehanna restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Bank of America raised CSX from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Finally, TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and raised their target price for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Up 2.2%

CSX stock traded up $0.76 during trading on Thursday, hitting $35.76. 31,706,226 shares of the company traded hands, compared to its average volume of 16,334,290. The company has a 50-day moving average of $32.69 and a 200-day moving average of $31.26. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.75 and a current ratio of 0.77. CSX has a 1 year low of $26.22 and a 1 year high of $37.10. The firm has a market capitalization of $66.67 billion, a PE ratio of 22.07, a P/E/G ratio of 3.20 and a beta of 1.23.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, August 29th. CSX's payout ratio is currently 32.10%.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently made changes to their positions in CSX. Brighton Jones LLC raised 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 worth $525,000 after acquiring an additional 849 shares during the period. LPL Financial LLC raised its holdings in CSX by 7.8% in the 4th quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company's stock worth $55,250,000 after purchasing an additional 124,615 shares during the period. Congress Wealth Management LLC DE purchased a new position in CSX during the fourth quarter valued at $1,087,000. Modern Wealth Management LLC lifted its position in CSX by 67.1% during the fourth quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company's stock valued at $535,000 after purchasing an additional 6,495 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in CSX by 7.8% during the fourth quarter. Zions Bancorporation N.A. now owns 7,326 shares of the transportation company's stock valued at $236,000 after purchasing an additional 533 shares during the period. Hedge funds and other 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.