Sanford C. Bernstein Raises CSX (NASDAQ:CSX) Price Target to $37.00

Key Points

• Sanford C. Bernstein has raised the price target for CSX from $36.00 to $37.00, indicating a potential upside of 3.27% from the company's previous close.
• The current consensus rating for CSX is "Moderate Buy," with a majority of analysts holding a "Buy" or "Outperform" rating.
• CSX recently reported an earnings per share (EPS) of $0.44, beating analysts' expectations, despite a revenue decline of 3.5% year over year.

CSX (NASDAQ:CSX - Get Free Report) had its price objective increased by equities research analysts at Sanford C. Bernstein from $36.00 to $37.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a "market perform" rating on the transportation company's stock. Sanford C. Bernstein's price objective suggests a potential upside of 3.27% from the company's previous close.

CSX has been the topic of a number of other research reports. Jefferies Financial Group restated a "buy" rating on shares of CSX in a research report on Monday. Robert W. Baird cut their target price on CSX from $44.00 to $39.00 and set an "outperform" rating for the company in a research note on Friday. Bank of America lowered their price objective on shares of CSX from $42.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and increased their target price for the company from $32.00 to $45.00 in a report on Monday, July 21st. Finally, Wall Street Zen cut shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.50.

CSX Stock Up 5.4%

CSX opened at $35.83 on Tuesday. CSX has a 12 month low of $26.22 and a 12 month high of $37.25. The company has a market cap of $66.80 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $34.21 and a 200 day moving average of $31.86.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake 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 period. Ameriprise Financial Inc. grew its holdings in CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after buying an additional 2,599,518 shares in the last quarter. Northern Trust Corp raised its position in shares of CSX by 4.6% during the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock valued at $649,442,000 after buying an additional 969,567 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CSX by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock worth $551,540,000 after buying an additional 1,856,322 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CSX by 19.1% during the first 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 acquiring an additional 2,454,895 shares during the last quarter. 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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