Investment analysts at Goldman Sachs Group began coverage on shares of CSX (NASDAQ:CSX) in a research report issued on Monday, November 13th, Marketbeat reports. The brokerage set a “sell” rating and a $45.00 price target on the transportation company’s stock. Goldman Sachs Group’s price objective points to a potential downside of 18.20% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub cut shares of CSX from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Barclays upped their price objective on shares of CSX from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Credit Suisse Group upped their price objective on shares of CSX from $60.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Finally, Wells Fargo & Co cut shares of CSX from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.58.
Shares of CSX (NASDAQ:CSX) traded up $0.01 on Monday, reaching $55.01. The company’s stock had a trading volume of 3,066,357 shares, compared to its average volume of 10,011,950. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.05 and a quick ratio of 0.86. The firm has a market cap of $49,163.70, a P/E ratio of 28.36, a PEG ratio of 1.86 and a beta of 1.35. CSX has a 52 week low of $35.59 and a 52 week high of $58.35.
CSX announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Gary Keith Anderson bought 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were acquired at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.
Several institutional investors have recently modified their holdings of CSX. Gradient Investments LLC raised its stake in CSX by 38.1% during the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock worth $107,000 after acquiring an additional 539 shares during the period. Parallel Advisors LLC raised its stake in CSX by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after acquiring an additional 285 shares during the period. Reilly Financial Advisors LLC raised its stake in CSX by 33.1% during the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock worth $110,000 after acquiring an additional 500 shares during the period. Valeo Financial Advisors LLC acquired a new stake in CSX during the third quarter worth about $196,000. Finally, Keel Point LLC acquired a new stake in CSX during the first quarter worth about $207,000. Institutional investors and hedge funds own 70.15% of the company’s stock.
About CSX
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.
