CSX (NASDAQ:CSX) Upgraded to "Hold" at Wall Street Zen

Key Points

• CSX has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Benchmark and Citigroup have both raised their price targets for CSX, with Citigroup setting a new target of $41.00 and Benchmark increasing theirs to $40.00.
• CSX reported an earnings per share (EPS) of $0.44 for the last quarter, surpassing analyst expectations, despite a 0.9% year-over-year revenue decline.

CSX (NASDAQ:CSX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also commented on the company. Benchmark raised their price target on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price target (up previously from $40.00) on shares of CSX in a research note on Monday. Deutsche Bank Aktiengesellschaft raised CSX from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research note on Thursday, July 24th. Royal Bank Of Canada raised their price target on CSX from $39.00 to $41.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Finally, Stephens raised their price target on CSX from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and a consensus price target of $38.87.

CSX Stock Performance

Shares of CSX stock opened at $36.60 on Friday. The stock has a fifty day moving average of $34.34 and a 200 day moving average of $32.42. CSX has a 52 week low of $26.22 and a 52 week high of $37.25. The firm has a market capitalization of $68.23 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.82 and a beta of 1.29. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.16% and a net margin of 20.55%.The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm's revenue was down .9% on a year-over-year basis. As a group, research analysts expect that CSX will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On CSX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after purchasing an additional 2,599,518 shares during the last quarter. Northern Trust Corp raised its position in shares of CSX by 4.6% in the 1st quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock worth $649,442,000 after purchasing an additional 969,567 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CSX by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock worth $551,540,000 after purchasing an additional 1,856,322 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of CSX by 19.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company's stock worth $450,635,000 after purchasing an additional 2,454,895 shares during the last quarter. 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.

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