CSX (NASDAQ:CSX) had its price objective boosted by research analysts at Cowen from $32.00 to $35.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage currently has a "market perform" rating on the transportation company's stock. Cowen's target price points to a potential upside of 6.19% from the stock's current price.
CSX has been the subject of a number of other reports. Morgan Stanley increased their price objective on shares of CSX from $20.67 to $21.00 and gave the company an "underweight" rating in a report on Wednesday, July 7th. Atlantic Securities assumed coverage on shares of CSX in a report on Monday, July 12th. They issued an "overweight" rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of CSX from $37.67 to $38.33 and gave the company a "buy" rating in a report on Tuesday, June 15th. Raymond James raised their target price on shares of CSX from $33.33 to $35.00 and gave the company an "outperform" rating in a report on Thursday, April 15th. Finally, Wells Fargo & Company raised their target price on shares of CSX from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and an average price target of $34.25.
Shares of NASDAQ CSX traded up $1.39 during midday trading on Thursday, hitting $32.96. 444,978 shares of the company's stock traded hands, compared to its average volume of 12,206,381. CSX has a 1 year low of $22.69 and a 1 year high of $34.96. The stock has a market capitalization of $74.89 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.39 and a quick ratio of 2.23. The company has a fifty day moving average price of $33.69.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.37 by $0.02. CSX had a net margin of 25.62% and a return on equity of 21.42%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm posted $0.22 EPS. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. On average, analysts predict that CSX will post 1.45 EPS for the current year.
In other CSX news, Director Paul C. Hilal sold 1,411,705 shares of CSX stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $100.93, for a total value of $142,483,385.65. Following the transaction, the director now owns 12,399 shares in the company, valued at $1,251,431.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Moffett sold 5,819 shares of CSX stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $101.93, for a total value of $593,130.67. The disclosure for this sale can be found here. Insiders sold 1,996,015 shares of company stock valued at $201,411,409 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CSX. FIL Ltd lifted its holdings in CSX by 3,988.1% in the fourth quarter. FIL Ltd now owns 57,520 shares of the transportation company's stock valued at $5,220,000 after acquiring an additional 56,113 shares during the period. Vantage Consulting Group Inc acquired a new position in shares of CSX during the 4th quarter worth approximately $30,000. Engineers Gate Manager LP acquired a new position in shares of CSX during the 4th quarter worth approximately $1,128,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of CSX by 19.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,291,460 shares of the transportation company's stock worth $117,201,000 after buying an additional 214,551 shares during the period. Finally, Guggenheim Capital LLC raised its stake in shares of CSX by 5.6% during the 4th quarter. Guggenheim Capital LLC now owns 230,683 shares of the transportation company's stock worth $20,935,000 after buying an additional 12,178 shares during the period. 73.11% of the stock is owned by institutional investors.
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 transports chemicals, agricultural and food products, automotive, minerals, 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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