CSX (NASDAQ:CSX) had its price target reduced by research analysts at Bank of America from $67.00 to $66.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America’s price objective indicates a potential upside of 24.15% from the stock’s current price.
Several other equities analysts have also commented on the company. BidaskClub lowered CSX from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. UBS Group set a $68.00 price objective on CSX and gave the stock a “buy” rating in a report on Friday, November 17th. Goldman Sachs Group initiated coverage on CSX in a report on Monday, November 13th. They set a “sell” rating and a $45.00 price objective on the stock. TD Securities lowered CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $63.00 to $54.00 in a report on Monday, December 18th. Finally, Zacks Investment Research raised CSX from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $60.23.
CSX (CSX) traded up $2.27 during trading hours on Tuesday, reaching $53.16. The company had a trading volume of 11,144,700 shares, compared to its average volume of 7,216,315. The stock has a market capitalization of $46,810.00, a price-to-earnings ratio of 8.79, a PEG ratio of 1.23 and a beta of 1.26. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. CSX has a 52-week low of $45.41 and a 52-week high of $60.04.
CSX announced that its Board of Directors 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 buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CSX. Chilton Investment Co. LLC acquired a new stake in CSX in the fourth quarter valued at about $83,179,000. Sirios Capital Management L P lifted its position in CSX by 265.0% in the fourth quarter. Sirios Capital Management L P now owns 1,882,529 shares of the transportation company’s stock valued at $103,558,000 after purchasing an additional 1,366,709 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in CSX by 188.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,582,029 shares of the transportation company’s stock valued at $87,027,000 after purchasing an additional 1,034,029 shares during the period. APG Asset Management N.V. lifted its position in CSX by 25.0% in the fourth quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock valued at $147,450,000 after purchasing an additional 644,500 shares during the period. Finally, Boston Advisors LLC lifted its position in CSX by 1,491.4% in the fourth quarter. Boston Advisors LLC now owns 558,610 shares of the transportation company’s stock valued at $30,729,000 after purchasing an additional 523,508 shares during the period. Hedge funds and other institutional investors own 69.63% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “CSX (CSX) Price Target Lowered to $66.00 at Bank of America” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/02/13/csx-csx-price-target-lowered-to-66-00-at-bank-of-america.html.
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.
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.