CSX (NASDAQ:CSX) had its price objective hoisted by research analysts at TD Securities from $60.00 to $62.00 in a report released on Wednesday. The brokerage presently has a “hold” rating on the transportation company’s stock. TD Securities’ price objective would indicate a potential upside of 7.47% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Scotiabank set a $63.00 target price on CSX and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley set a $51.00 target price on CSX and gave the stock a “sell” rating in a research note on Wednesday. Cowen restated a “market perform” rating and issued a $61.00 target price (up previously from $54.00) on shares of CSX in a research note on Wednesday. UBS Group reduced their target price on CSX from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Citigroup restated a “buy” rating and issued a $64.00 target price on shares of CSX in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. CSX has a consensus rating of “Buy” and an average price target of $59.40.
CSX (CSX) traded down $0.44 during trading on Wednesday, hitting $57.69. The stock had a trading volume of 11,093,515 shares, compared to its average volume of 8,930,000. The firm has a market cap of $51,560.00, a PE ratio of 9.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.05 and a quick ratio of 0.86. CSX has a 52-week low of $36.21 and a 52-week high of $60.04.
CSX declared that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction on Friday, November 24th. The stock was acquired at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Company insiders own 4.79% of the company’s stock.
Several institutional investors have recently made changes to their positions in CSX. First Command Financial Services Inc. increased its stake in shares of CSX by 130.0% in the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 1,200 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of CSX in the 3rd quarter valued at about $196,000. Laurel Wealth Advisors Inc. purchased a new position in shares of CSX in the 2nd quarter valued at about $226,000. Americafirst Capital Management LLC purchased a new position in shares of CSX in the 3rd quarter valued at about $308,000. Finally, Sterling Capital Management LLC increased its stake in shares of CSX by 32.0% in the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 1,423 shares in the last quarter. Hedge funds and other institutional investors own 70.17% of the company’s stock.
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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.
