CSX Corporation (NASDAQ:CSX) has been given a $68.00 price objective by equities research analysts at UBS AG in a report released on Monday, October 16th, www.benzinga.com reports. The brokerage currently has a “buy” rating on the transportation company’s stock. UBS AG’s price target points to a potential upside of 29.89% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded CSX Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. J P Morgan Chase & Co raised their price objective on CSX Corporation from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Aegis reiterated a “buy” rating and issued a $64.00 price target on shares of CSX Corporation in a research report on Tuesday, October 10th. ValuEngine lowered CSX Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Morgan Stanley lowered CSX Corporation from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $44.00 to $43.00 in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. CSX Corporation currently has an average rating of “Buy” and an average price target of $56.76.
Shares of CSX Corporation (NASDAQ CSX) opened at 52.35 on Monday. CSX Corporation has a 12 month low of $30.01 and a 12 month high of $55.48. The company has a market capitalization of $47.43 billion, a P/E ratio of 26.98 and a beta of 1.35. The company’s 50 day moving average price is $52.81 and its 200 day moving average price is $51.82.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.51. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.77 billion. CSX Corporation had a return on equity of 17.28% and a net margin of 15.45%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. Analysts expect that CSX Corporation will post $2.22 EPS for the current fiscal year.
CSX Corporation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Gradient Investments LLC grew its holdings in shares of CSX Corporation by 38.1% during the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock valued at $107,000 after buying an additional 539 shares during the last quarter. Parallel Advisors LLC boosted its holdings in CSX Corporation by 14.9% in the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 285 shares during the last quarter. Reilly Financial Advisors LLC boosted its holdings in CSX Corporation by 33.1% in the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 500 shares during the last quarter. LBA Wealth Management LLC boosted its holdings in CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Madden Advisory Services Inc. purchased a new stake in CSX Corporation in the first quarter valued at $155,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.
About CSX Corporation
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.
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