CSX (NASDAQ:CSX) Price Target Cut to $38.00

CSX (NASDAQ:CSX) had its price target dropped by stock analysts at Jefferies Financial Group from $40.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 10.66% from the company’s current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. Benchmark boosted their price objective on shares of CSX from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Bank of America reduced their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.72.

CSX Stock Down 0.1 %

Shares of CSX stock opened at $34.34 on Thursday. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a 50 day moving average of $36.88 and a 200 day moving average of $34.35. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $67.22 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.97 and a beta of 1.18.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.88%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that CSX will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of CSX. Miracle Mile Advisors LLC increased its stake in CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after buying an additional 303 shares during the period. High Net Worth Advisory Group LLC increased its stake in CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC increased its stake in CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after buying an additional 304 shares during the period. Cornercap Investment Counsel Inc. increased its stake in CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after buying an additional 309 shares during the period. Finally, Park Place Capital Corp increased its stake in CSX by 12.1% in the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after buying an additional 330 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.