CSX (NASDAQ:CSX) Rating Increased to Buy at TD Cowen

TD Cowen upgraded shares of CSX (NASDAQ:CSX - Free Report) from a hold rating to a buy rating in a report published on Monday, Marketbeat Ratings reports. TD Cowen currently has $45.00 price target on the transportation company's stock, up from their prior price target of $32.00.

Several other research firms have also recently weighed in on CSX. Susquehanna restated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Tuesday, June 24th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Jefferies Financial Group lowered their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. BMO Capital Markets lowered their target price on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Argus set a $32.00 price target on shares of CSX in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.59.

CSX Stock Performance

CSX stock traded up $0.87 during trading on Monday, reaching $35.23. 20,963,421 shares of the stock were exchanged, compared to its average volume of 13,601,673. CSX has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a market capitalization of $66.18 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The stock has a 50 day simple moving average of $32.27 and a 200-day simple moving average of $31.15. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.48%. CSX's dividend payout ratio is currently 31.14%.

Hedge Funds Weigh In On CSX

Several large investors have recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX during the fourth quarter worth $27,000. Rossby Financial LCC bought a new stake in CSX in the first quarter worth about $28,000. Accredited Wealth Management LLC bought a new stake in CSX in the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the 4th quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in CSX in the 1st quarter worth approximately $30,000. 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.