CSX (NASDAQ:CSX) had its price target hoisted by research analysts at Argus from $64.00 to $66.00 in a report issued on Thursday. The firm currently has a “buy” rating on the transportation company’s stock. Argus’ price objective suggests a potential upside of 14.80% from the stock’s previous close.
Several other analysts have also recently commented on CSX. Zacks Investment Research lowered CSX from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Morgan Stanley lowered CSX from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $44.00 to $43.00 in a research report on Monday, October 2nd. ValuEngine downgraded CSX from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Aegis reiterated a “buy” rating and set a $64.00 price target on shares of CSX in a report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. upped their price target on CSX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.38.
Shares of CSX (CSX) traded down $0.56 on Thursday, hitting $57.49. 7,386,493 shares of the stock traded hands, compared to its average volume of 5,352,751. CSX has a one year low of $42.88 and a one year high of $60.04. The company has a market cap of $51,380.14, a PE ratio of 9.47, a P/E/G ratio of 1.42 and a beta of 1.35. 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 (NASDAQ:CSX) last released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. equities research analysts forecast that CSX will post 3.07 EPS for the current year.
CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In other 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 bought 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 owned by insiders.
Large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC grew its stake in CSX by 2.4% in the second quarter. Mutual of America Capital Management LLC now owns 112,810 shares of the transportation company’s stock worth $6,155,000 after purchasing an additional 2,620 shares in the last quarter. Pinebridge Investments L.P. boosted its position in CSX by 515.7% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock valued at $488,000 after acquiring an additional 7,483 shares in the last quarter. Wealthfront Inc. lifted its holdings in shares of CSX by 19.7% during the 2nd quarter. Wealthfront Inc. now owns 22,848 shares of the transportation company’s stock valued at $1,247,000 after purchasing an additional 3,759 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of CSX by 105.7% during the 2nd quarter. Cibc World Markets Corp now owns 198,987 shares of the transportation company’s stock valued at $10,857,000 after purchasing an additional 102,248 shares during the last quarter. Finally, Cbre Clarion Securities LLC lifted its holdings in shares of CSX by 1.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock valued at $1,282,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 70.17% of the company’s stock.
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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.