CSX (NASDAQ:CSX) Price Target Raised to $35.00 at Bank of America

CSX (NASDAQ:CSX) had its price objective boosted by investment analysts at Bank of America from $33.00 to $35.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price suggests a potential upside of 8.97% from the stock’s current price.

A number of other brokerages also recently issued reports on CSX. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective on the stock. Jefferies Financial Group decreased their price objective on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Raymond James restated an “outperform” rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Argus set a $32.00 price objective on CSX in a research report on Friday, April 25th. Finally, Benchmark restated a “buy” rating and set a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

CSX Price Performance

NASDAQ:CSX opened at $32.12 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $60.34 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.92 and a beta of 1.24. CSX has a 12 month low of $26.22 and a 12 month high of $37.10. The business’s 50-day moving average is $29.73 and its 200 day moving average is $31.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after purchasing an additional 15,029 shares in the last quarter. Waycross Partners LLC boosted its position in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares in the last quarter. Cercano Management LLC bought a new stake in CSX during the 4th quarter valued at $4,869,000. Geode Capital Management LLC boosted its position in CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in CSX by 6.4% during the 4th quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company’s stock valued at $869,000 after acquiring an additional 1,614 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

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.