Wells Fargo & Company Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX - Get Free Report) had its price target hoisted by analysts at Wells Fargo & Company from $28.00 to $35.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price points to a potential upside of 4.85% from the stock's previous close.

Several other research firms have also recently commented on CSX. Bank of America raised their price target on CSX from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Robert W. Baird began coverage on CSX in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $38.00 price objective for the company. Susquehanna reissued a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Tuesday, June 24th. Jefferies Financial Group lowered their price target on CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets reduced their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and an average target price of $34.32.

CSX Trading Up 1.0%

CSX traded up $0.33 during mid-day trading on Monday, hitting $33.38. 4,641,816 shares of the stock were exchanged, compared to its average volume of 13,278,631. The firm's fifty day moving average is $31.30 and its two-hundred day moving average is $31.06. CSX has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The company has a market cap of $62.71 billion, a PE ratio of 19.99, a PEG ratio of 2.94 and a beta of 1.23.

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

Institutional Investors Weigh In On CSX

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in CSX by 1.8% during the fourth 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 boosted its position in shares of 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 valued at $835,336,000 after acquiring an additional 5,033,743 shares during the period. Invesco Ltd. boosted its position in shares of CSX by 13.5% in the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after acquiring an additional 2,977,212 shares during the period. Norges Bank bought a new stake in shares of CSX in the fourth quarter valued at approximately $780,194,000. Finally, Ameriprise Financial Inc. boosted its position in shares of CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after acquiring an additional 2,599,518 shares during the period. 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.