CSX (NASDAQ:CSX) has been assigned a $51.00 target price by stock analysts at Morgan Stanley in a research note issued to investors on Wednesday. The brokerage currently has a “sell” rating on the transportation company’s stock. Morgan Stanley’s price target indicates a potential downside of 12.27% from the company’s current price.
CSX has been the topic of a number of other research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. TD Securities cut shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the company from $63.00 to $54.00 in a research report on Monday, December 18th. Credit Suisse Group upped their target price 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, BidaskClub cut shares of CSX from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $58.68.
CSX (CSX) opened at $58.13 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. The firm has a market cap of $51,950.00, a PE ratio of 9.58, a PEG ratio of 1.55 and a beta of 1.35. CSX has a 1 year low of $36.21 and a 1 year high of $60.04.
CSX announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson purchased 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Oakbrook Investments LLC increased its stake in CSX by 8.5% during the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 5,500 shares during the period. Pinebridge Investments L.P. increased its stake in shares of CSX by 515.7% during the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock worth $488,000 after buying an additional 7,483 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of CSX by 12.0% during the third quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock worth $30,650,000 after buying an additional 60,300 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of CSX during the third quarter worth approximately $633,000. Finally, South State Corp increased its stake in shares of CSX by 36.3% during the third quarter. South State Corp now owns 23,419 shares of the transportation company’s stock worth $1,271,000 after buying an additional 6,239 shares during the period. Institutional investors own 70.17% of the company’s stock.
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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.
