CSX (NASDAQ:CSX) had its price target boosted by Raymond James from $81.00 to $84.00 in a research note released on Wednesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the transportation company’s stock.
CSX has been the topic of several other research reports. Zacks Investment Research raised shares of CSX from a hold rating to a buy rating and set a $74.00 price objective on the stock in a research report on Monday, February 4th. BidaskClub raised shares of CSX from a buy rating to a strong-buy rating in a research report on Thursday, February 14th. Loop Capital lifted their price objective on shares of CSX to $87.00 and gave the stock a buy rating in a research report on Thursday, January 17th. Argus lowered their price objective on shares of CSX from $84.00 to $71.00 and set a buy rating on the stock in a research report on Monday, December 31st. Finally, ValuEngine lowered shares of CSX from a buy rating to a hold rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $78.23.
CSX opened at $78.97 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34. CSX has a fifty-two week low of $57.97 and a fifty-two week high of $80.51. The stock has a market cap of $64.18 billion, a P/E ratio of 20.57, a PEG ratio of 1.34 and a beta of 1.29.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. CSX had a net margin of 27.01% and a return on equity of 24.18%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm earned $0.78 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that CSX will post 4.23 EPS for the current fiscal year.
CSX declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 16th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the completion of the transaction, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in CSX by 2.3% during the fourth quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock valued at $3,069,519,000 after purchasing an additional 1,127,467 shares during the last quarter. FMR LLC lifted its position in CSX by 14.1% during the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after purchasing an additional 2,867,186 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in CSX by 11,871.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock valued at $185,000 after purchasing an additional 11,390,771 shares during the last quarter. Geode Capital Management LLC lifted its position in CSX by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after purchasing an additional 646,745 shares during the last quarter. Finally, Northern Trust Corp lifted its position in CSX by 2.1% during the fourth quarter. Northern Trust Corp now owns 9,500,242 shares of the transportation company’s stock valued at $590,251,000 after purchasing an additional 192,907 shares during the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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