BidaskClub downgraded shares of CSX (NASDAQ:CSX) from a buy rating to a hold rating in a research report sent to investors on Friday.
Several other analysts also recently commented on the stock. UBS Group set a $68.00 target price on shares of CSX and gave the stock a buy rating in a report on Friday, November 17th. Goldman Sachs Group started coverage on shares of CSX in a report on Monday, November 13th. They set a sell rating and a $45.00 target price for the company. Zacks Investment Research downgraded shares of CSX from a hold rating to a sell rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $58.00 to $62.00 and gave the stock an overweight rating in a report on Thursday, October 12th. Finally, TD Securities downgraded shares of CSX from a buy rating to a hold rating and reduced their target price for the stock from $63.00 to $54.00 in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. CSX presently has a consensus rating of Buy and an average price target of $60.38.
Shares of CSX (NASDAQ CSX) traded down $0.56 during mid-day trading on Friday, hitting $57.49. 7,490,190 shares of the company traded hands, compared to its average volume of 8,800,000. The company has a market cap of $50,880.00, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. CSX has a 1-year low of $42.88 and a 1-year high of $60.04.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 17.16%. CSX’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. equities research analysts anticipate that CSX will post 3.03 earnings per share for the current fiscal year.
CSX announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the company’s 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. 4.79% of the stock is owned by insiders.
Several large investors have recently modified their holdings of CSX. Lord Abbett & CO. LLC raised its position in shares of CSX by 29.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after buying an additional 565,529 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of CSX by 31.3% in the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock valued at $97,751,000 after buying an additional 429,795 shares in the last quarter. Bank of Montreal Can raised its position in shares of CSX by 13.0% in the 4th quarter. Bank of Montreal Can now owns 1,567,713 shares of the transportation company’s stock valued at $86,240,000 after buying an additional 180,925 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock valued at $82,401,000 after buying an additional 149,208 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of CSX by 4.5% in 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 buying an additional 113,493 shares in the last quarter. Institutional investors own 70.17% of the company’s stock.
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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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