UBS Group Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

Key Points

• UBS Group has raised its price objective for CSX stock from $41.00 to $44.00, indicating a potential upside of 23.37% based on the stock's previous close.
• CSX currently holds a consensus rating of "Moderate Buy" with a price target of $37.95, while institutional investors own 73.57% of the stock.
• In its latest earnings report, CSX reported a quarterly earnings per share of $0.44, exceeding expectations and showing a 3.5% decline in year-over-year revenue.

CSX (NASDAQ:CSX - Get Free Report) had its price objective lifted by investment analysts at UBS Group from $41.00 to $44.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. UBS Group's price objective indicates a potential upside of 23.37% from the stock's previous close.

Several other brokerages also recently issued reports on CSX. Sanford C. Bernstein raised their price objective on shares of CSX from $36.00 to $37.00 and gave the stock a "market perform" rating in a research note on Tuesday. Robert W. Baird reduced their price target on CSX from $44.00 to $39.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Benchmark boosted their price objective on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Thursday, July 24th. Finally, Citigroup upped their price target on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.95.

CSX Stock Up 0.3%

Shares of CSX opened at $35.67 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average of $34.23 and a 200 day moving average of $31.94. The company has a market cap of $66.49 billion, a PE ratio of 21.99, a P/E/G ratio of 2.71 and a beta of 1.29. CSX has a 52-week low of $26.22 and a 52-week high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts expect that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

Institutional investors have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC purchased a new stake in CSX during the second quarter worth $25,000. Rossby Financial LCC bought a new stake in CSX during the first quarter valued at about $28,000. WFA of San Diego LLC purchased a new position in CSX in the second quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX in the first quarter worth about $30,000. Finally, Kessler Investment Group LLC purchased a new stake in shares of CSX during the first quarter valued at about $32,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

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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