CSX Co. (CSX) Price Target Cut to $64.00
CSX Co. (NASDAQ:CSX) had its price target lowered by Royal Bank Of Canada from $65.00 to $64.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 27.46% from the company’s current price.
CSX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, July 11th. BMO Capital Markets reiterated a “buy” rating on shares of CSX in a report on Wednesday, August 30th. Credit Suisse Group reiterated a “buy” rating and issued a $65.00 target price on shares of CSX in a report on Friday, July 14th. BidaskClub downgraded shares of CSX from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, Cowen and Company reiterated a “hold” rating and issued a $54.00 target price on shares of CSX in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $53.47.
CSX (CSX) traded up 1.842% during midday trading on Thursday, hitting $51.135. The company had a trading volume of 3,351,726 shares. CSX has a 52-week low of $27.89 and a 52-week high of $55.48. The stock’s 50-day moving average price is $49.92 and its 200-day moving average price is $50.52. The stock has a market cap of $46.70 billion, a PE ratio of 26.744 and a beta of 1.30. CSX also was the target of some unusual options trading activity on Tuesday. Stock traders acquired 13,300 call options on the company. This represents an increase of approximately 387% compared to the average volume of 2,733 call options.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. CSX had a net margin of 17.39% and a return on equity of 17.60%. CSX’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. On average, equities research analysts expect that CSX will post $2.28 EPS for the current fiscal year.
CSX declared that its board has approved a share buyback plan on Tuesday, July 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Ridge Lp Mantle purchased 1,357,000 shares of CSX stock in a transaction on Friday, July 21st. The shares were purchased at an average cost of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.79% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Gradient Investments LLC boosted its position in CSX by 38.1% in the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock valued at $107,000 after buying an additional 539 shares in the last quarter. Reilly Financial Advisors LLC boosted its position in CSX by 33.1% in the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after buying an additional 500 shares in the last quarter. Assetmark Inc. boosted its position in CSX by 8.7% in the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock valued at $102,000 after buying an additional 175 shares in the last quarter. Parallel Advisors LLC boosted its position in CSX by 14.9% in the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after buying an additional 285 shares in the last quarter. Finally, LBA Wealth Management LLC boosted its position in CSX by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
CSX Company Profile
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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