CSX Corporation (NASDAQ:CSX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CSX has been the topic of a number of other research reports. Loop Capital restated a “hold” rating and set a $54.00 target price (up previously from $52.00) on shares of CSX Corporation in a research report on Saturday, July 22nd. Bank of America Corporation restated a “buy” rating and set a $65.00 target price (up previously from $56.00) on shares of CSX Corporation in a research report on Tuesday, June 6th. Zacks Investment Research lowered shares of CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. UBS AG restated a “buy” rating and set a $62.00 target price on shares of CSX Corporation in a research report on Monday, August 14th. Finally, TD Securities restated a “buy” rating and set a $64.00 target price (up previously from $57.00) on shares of CSX Corporation in a research report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $53.71.

CSX Corporation (CSX) traded down 0.20% during mid-day trading on Friday, hitting $48.78. 6,910,756 shares of the stock traded hands. CSX Corporation has a 12 month low of $27.89 and a 12 month high of $55.48. The company has a market cap of $44.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.30. The stock’s 50 day moving average is $51.73 and its 200-day moving average is $50.30.

CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $0.47 earnings per share. CSX Corporation’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that CSX Corporation will post $2.30 EPS for the current year.

CSX Corporation announced that its board has initiated a stock buyback program on Tuesday, July 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the transportation company to buy up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “CSX Corporation (CSX) Stock Rating Lowered by BidaskClub” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/19/csx-corporation-csx-stock-rating-lowered-by-bidaskclub.html.

In related news, Director Ridge Lp Mantle bought 1,357,000 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 4.79% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Paragon Capital Management Ltd bought a new stake in CSX Corporation during the first quarter valued at $9,357,000. United Services Automobile Association increased its stake in CSX Corporation by 20.9% in the first quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock valued at $26,705,000 after buying an additional 99,118 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in CSX Corporation during the first quarter valued at $375,000. ClariVest Asset Management LLC bought a new stake in CSX Corporation during the first quarter valued at $13,531,000. Finally, Stratos Wealth Partners LTD. increased its stake in CSX Corporation by 10.6% in the first quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock valued at $639,000 after buying an additional 1,316 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

About CSX Corporation

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

Receive News & Ratings for CSX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.