CSX (NASDAQ:CSX) has been given a $55.00 price target by equities research analysts at Scotiabank in a report released on Friday. The firm currently has a “buy” rating on the transportation company’s stock. Scotiabank’s price objective points to a potential downside of 4.03% from the company’s current price.
Several other research firms have also issued reports on CSX. Barclays reissued a “buy” rating and issued a $68.00 target price on shares of CSX in a report on Wednesday. UBS set a $68.00 target price on shares of CSX and gave the stock a “buy” rating in a report on Sunday, December 3rd. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Morgan Stanley lowered shares of CSX from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $44.00 to $43.00 in a report on Monday, October 2nd. Finally, Credit Suisse Group increased their target price on shares of CSX from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $57.75.
CSX (NASDAQ CSX) traded down $0.38 during midday trading on Friday, hitting $57.31. 7,152,600 shares of the stock traded hands, compared to its average volume of 8,465,294. CSX has a 12-month low of $35.59 and a 12-month high of $58.35. The stock has a market cap of $51,558.88, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.78 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08.
CSX declared that its board has approved a share repurchase plan on Wednesday, October 25th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
In other news, Director Gary Keith Anderson bought 5,000 shares of the stock in a transaction dated Friday, November 24th. The stock was purchased at an average cost 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.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in shares of CSX by 4.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after acquiring an additional 113,493 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of CSX during the 3rd quarter valued at approximately $633,000. Americafirst Capital Management LLC bought a new position in shares of CSX during the 3rd quarter valued at approximately $308,000. Sterling Capital Management LLC boosted its position in shares of CSX by 32.0% during the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock valued at $319,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of CSX during the 3rd quarter valued at approximately $196,000. Hedge funds and other institutional investors own 70.24% of the company’s stock.
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.
