The Goldman Sachs Group Reiterates Neutral Rating for CSX (NASDAQ:CSX)

CSX (NASDAQ:CSX)‘s stock had its “neutral” rating reiterated by investment analysts at The Goldman Sachs Group in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $35.00 price objective on the transportation company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.86% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Raymond James restated an “outperform” rating and issued a $33.00 price objective (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their price target for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. UBS Group lowered their price objective on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Benchmark restated a “buy” rating and set a $35.00 price target on shares of CSX in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.95.

CSX Stock Up 2.0%

CSX stock opened at $31.86 on Monday. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm’s 50-day simple moving average is $29.12 and its 200 day simple moving average is $31.43. The stock has a market cap of $59.85 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in CSX during the 4th quarter worth approximately $780,194,000. Ameriprise Financial Inc. grew its position in shares of CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after purchasing an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares during the period. Nuveen LLC bought a new position in shares of CSX in the first quarter worth $182,550,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

About CSX

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.