CSX (NASDAQ:CSX) was downgraded by research analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.
CSX has been the subject of a number of other research reports. BMO Capital Markets reaffirmed a “buy” rating on shares of CSX in a research report on Wednesday, August 30th. Credit Suisse Group lowered their price objective on shares of CSX from $61.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, September 7th. Zacks Investment Research cut shares of CSX from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Royal Bank of Canada lowered their price objective on shares of CSX from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, September 7th. Finally, UBS set a $68.00 price objective on shares of CSX and gave the stock a “buy” rating in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $57.75.
Shares of CSX (NASDAQ:CSX) opened at $52.93 on Monday. CSX has a one year low of $35.59 and a one year high of $58.35. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. The firm has a market cap of $47,304.76, a P/E ratio of 24.62, a PEG ratio of 1.63 and a beta of 1.35.
CSX announced that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the stock in a transaction on Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of CSX in the fourth quarter valued at about $306,397,000. Wellington Management Group LLP raised its position in CSX by 20.1% during the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the transportation company’s stock worth $975,389,000 after acquiring an additional 6,331,519 shares during the last quarter. Brahman Capital Corp. acquired a new position in CSX during the first quarter worth about $257,229,000. Blue Ridge Capital L.L.C. acquired a new position in CSX during the first quarter worth about $225,162,000. Finally, Janus Capital Management LLC raised its position in CSX by 32.9% during the first quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock worth $773,686,000 after acquiring an additional 4,114,395 shares during the last quarter. 70.24% of the stock is currently owned by institutional investors and hedge funds.
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.
