CSX (CSX) Price Target Lowered to $66.00 at Bank of America

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 (NASDAQ:CSX) last posted its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. CSX’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. equities research analysts anticipate that CSX will post 3.11 EPS for the current fiscal year.

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.

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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.

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