Scotiabank downgraded shares of CSX (NASDAQ:CSX) from an outperform rating to a sector perform rating in a research note released on Friday morning. Scotiabank currently has $43.00 target price on the transportation company’s stock.
Several other analysts have also recently weighed in on CSX. Zacks Investment Research cut CSX from a hold rating to a sell rating in a report on Tuesday, September 26th. Morgan Stanley lowered CSX from an equal weight rating to an underweight rating and reduced their price objective for the company from $44.00 to $43.00 in a research report on Monday, October 2nd. ValuEngine lowered CSX from a buy rating to a hold rating in a research report on Monday, October 2nd. Aegis reiterated a buy rating and set a $64.00 price objective on shares of CSX in a research report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on CSX from $58.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. CSX presently has an average rating of Buy and a consensus target price of $57.28.
CSX (NASDAQ:CSX) traded up $0.56 during trading hours on Friday, hitting $59.25. The company’s stock had a trading volume of 4,742,948 shares, compared to its average volume of 9,300,000. CSX has a 1 year low of $36.21 and a 1 year high of $59.76. The stock has a market cap of $52,950.00, a PE ratio of 30.54, a P/E/G ratio of 1.59 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. CSX had a return on equity of 17.28% and a net margin of 15.45%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm posted $0.48 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. equities analysts expect that CSX will post 2.21 earnings per share for the current fiscal year.
CSX announced that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were 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 company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KCS Wealth Advisory purchased a new position in shares of CSX in the 4th quarter valued at approximately $514,000. Sheets Smith Wealth Management purchased a new position in shares of CSX in the 4th quarter valued at approximately $538,000. First Command Financial Services Inc. lifted 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 during the period. First PREMIER Bank lifted its stake in shares of CSX by 15.7% in the 4th quarter. First PREMIER Bank now owns 27,663 shares of the transportation company’s stock valued at $1,522,000 after purchasing an additional 3,764 shares during the period. Finally, Stock Yards Bank & Trust Co. lifted its stake in shares of CSX by 21.5% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 8,788 shares of the transportation company’s stock valued at $484,000 after purchasing an additional 1,556 shares during the period. Institutional investors own 70.15% of the company’s stock.
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CSX Company Profile
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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