CSX Co. (CSX) Receives Average Recommendation of “Buy” from Analysts
CSX Co. (NASDAQ:CSX) has earned a consensus rating of “Buy” from the twenty-nine analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $56.18.
Several research analysts have issued reports on the stock. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price objective on shares of CSX in a research report on Friday, August 11th. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. UBS reissued a “buy” rating and set a $62.00 price objective on shares of CSX in a research report on Monday, August 14th. Finally, Barclays raised their price objective on shares of CSX from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th.
CSX (NASDAQ:CSX) opened at $56.16 on Friday. CSX has a 52-week low of $35.59 and a 52-week high of $58.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05. The stock has a market cap of $50,340.00, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35.
CSX announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 29th. CSX’s dividend payout ratio (DPR) is 41.24%.
In related news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in CSX during the third quarter worth about $633,000. Americafirst Capital Management LLC acquired a new position in CSX during the third quarter worth about $308,000. Sterling Capital Management LLC raised its position in CSX by 32.0% during the third quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after acquiring an additional 1,423 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in CSX during the third quarter worth about $196,000. Finally, Cohen & Steers Inc. raised its position in CSX by 31.3% during the third quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock worth $97,751,000 after acquiring an additional 429,795 shares during the last quarter. Hedge funds and other institutional investors own 70.24% of the company’s stock.
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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