CSX Corporation (CSX) Stock Rating Lowered by BidaskClub
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.
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.
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