Argus Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its price objective raised by research analysts at Argus from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the transportation company’s stock. Argus’ price target would suggest a potential upside of 12.36% from the stock’s current price.

CSX has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Wolfe Research reduced their target price on CSX from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, January 8th. Raymond James Financial lifted their price target on CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Susquehanna restated a “neutral” rating and issued a $39.00 price objective on shares of CSX in a research note on Friday, January 23rd. Finally, Wall Street Zen raised CSX from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Eighteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $39.42.

CSX Stock Down 0.8%

Shares of NASDAQ:CSX opened at $37.38 on Tuesday. The business’s 50 day moving average is $36.11 and its 200 day moving average is $35.21. CSX has a 12-month low of $26.22 and a 12-month high of $38.11. The stock has a market cap of $69.61 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.91 and a beta of 1.30. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. CSX’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of CSX

A number of institutional investors have recently modified their holdings of CSX. Brighton Jones LLC lifted its position in shares of CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares in the last quarter. Crews Bank & Trust lifted its holdings in CSX by 15.8% during the 2nd quarter. Crews Bank & Trust now owns 13,196 shares of the transportation company’s stock worth $431,000 after purchasing an additional 1,800 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in CSX by 0.9% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 45,558 shares of the transportation company’s stock worth $1,487,000 after purchasing an additional 400 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in CSX by 1.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 186,778 shares of the transportation company’s stock worth $6,095,000 after purchasing an additional 2,985 shares during the period. Finally, Private Wealth Asset Management LLC grew its holdings in CSX by 12.5% during the 2nd quarter. Private Wealth Asset Management LLC now owns 16,557 shares of the transportation company’s stock valued at $540,000 after buying an additional 1,843 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.