CSX (CSX) Downgraded by BidaskClub to “Hold”

CSX (NASDAQ:CSX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

CSX has been the topic of a number of other research reports. Robert W. Baird restated a “buy” rating and issued a $59.00 target price on shares of CSX in a research note on Tuesday, January 9th. Zacks Investment Research upgraded CSX from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. TD Securities downgraded CSX from a “buy” rating to a “hold” rating and lowered their target price for the company from $63.00 to $54.00 in a research note on Monday, December 18th. Morgan Stanley set a $51.00 target price on CSX and gave the company a “sell” rating in a research note on Wednesday. Finally, Credit Suisse Group upped their price target on CSX from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $60.38.

Shares of CSX (NASDAQ CSX) traded down $0.56 during midday trading on Friday, reaching $57.49. The company’s stock had a trading volume of 7,386,493 shares, compared to its average volume of 5,352,751. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. CSX has a 1 year low of $42.88 and a 1 year high of $60.04. The stock has a market capitalization of $51,380.14, a P/E ratio of 9.47, a P/E/G ratio of 1.42 and a beta of 1.35.

CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. equities research analysts forecast that CSX will post 3.07 EPS for the current fiscal year.

CSX declared that its board has authorized a stock repurchase program on Wednesday, October 25th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average price of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. V Wealth Management LLC raised its holdings in CSX by 54.9% in the 4th quarter. V Wealth Management LLC now owns 8,436 shares of the transportation company’s stock valued at $473,000 after acquiring an additional 2,991 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in CSX by 531.2% in the 4th quarter. State of Alaska Department of Revenue now owns 100,147 shares of the transportation company’s stock valued at $5,507,000 after acquiring an additional 84,280 shares in the last quarter. BKD Wealth Advisors LLC raised its holdings in CSX by 5.1% in the 4th quarter. BKD Wealth Advisors LLC now owns 50,908 shares of the transportation company’s stock valued at $2,800,000 after acquiring an additional 2,467 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its holdings in CSX by 8.4% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 20,227 shares of the transportation company’s stock valued at $1,113,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in CSX in the 4th quarter valued at approximately $600,000. 70.17% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for CSX (NASDAQ:CSX)

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