Wells Fargo & Company Boosts CSX (NASDAQ:CSX) Price Target to $37.00

CSX (NASDAQ:CSX - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $35.00 to $37.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price suggests a potential upside of 5.19% from the company's current price.

Several other brokerages have also recently weighed in on CSX. The Goldman Sachs Group reiterated a "neutral" rating and set a $35.00 price target on shares of CSX in a research report on Monday, June 2nd. JPMorgan Chase & Co. boosted their target price on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group cut their target price on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Citigroup increased their price objective on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $37.00 price objective (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.73.

CSX Stock Performance

NASDAQ CSX traded up $0.21 during trading hours on Thursday, hitting $35.18. The company had a trading volume of 15,618,176 shares, compared to its average volume of 15,534,493. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The business has a 50 day moving average of $32.52 and a 200-day moving average of $31.22. CSX has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a market cap of $66.08 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 3.15 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, equities research analysts expect that CSX will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its position in shares of CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after purchasing an additional 849 shares in the last quarter. LPL Financial LLC grew its stake in CSX by 7.8% in the 4th quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company's stock worth $55,250,000 after acquiring an additional 124,615 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of CSX during the 4th quarter valued at $1,087,000. Modern Wealth Management LLC boosted its position in CSX by 67.1% during the 4th quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company's stock worth $535,000 after purchasing an additional 6,495 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in CSX by 7.8% during the 4th quarter. Zions Bancorporation N.A. now owns 7,326 shares of the transportation company's stock worth $236,000 after purchasing an additional 533 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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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