Robert W. Baird Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

Key Points

• Analysts at Robert W. Baird have reduced their price target for CSX from $44.00 to $39.00, while maintaining an "outperform" rating.
• Despite the lowered target, other analysts have offered mixed reviews, with Citigroup increasing their target to $38.00 and maintaining a "buy" rating.
• CSX recently reported earnings of $0.44 per share, slightly above expectations, but its revenue has decreased by 3.5% compared to the same quarter last year.

CSX (NASDAQ:CSX - Get Free Report) had its price target decreased by analysts at Robert W. Baird from $44.00 to $39.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the transportation company's stock. Robert W. Baird's price objective points to a potential upside of 14.92% from the company's current price.

Several other analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Baird R W raised shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Bank of America decreased their price target on CSX from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday. Benchmark increased their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upgraded CSX from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $37.00 to $40.00 in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.36.

CSX Trading Up 0.5%

Shares of CSX opened at $33.94 on Friday. The firm has a market cap of $63.27 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.53 and a beta of 1.25. The business's fifty day moving average is $34.19 and its 200-day moving average is $31.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX has a 52-week low of $26.22 and a 52-week high of $37.25.

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

Institutional Investors Weigh In On CSX

A number of institutional investors and hedge funds have recently modified their holdings of CSX. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $25,000. WFA of San Diego LLC acquired a new position in CSX in the second quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the 1st quarter valued at approximately $30,000. Rossby Financial LCC bought a new position in CSX in the first quarter valued at $28,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of CSX in the first quarter valued at approximately $32,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.

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