CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group in a report issued on Friday, July 14th. They currently have a $65.00 target price on the transportation company’s stock. Credit Suisse Group’s target price points to a potential upside of 29.30% from the stock’s current price.
A number of other brokerages have also issued reports on CSX. Stifel Nicolaus increased their target price on shares of CSX Corporation from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a research report on Friday, June 9th. Cowen and Company restated a “market perform” rating and set a $54.00 price objective (up previously from $48.00) on shares of CSX Corporation in a research report on Sunday, April 23rd. Loop Capital restated a “hold” rating on shares of CSX Corporation in a research report on Saturday, March 25th. Finally, Barclays PLC raised their price objective on shares of CSX Corporation from $4.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the stock. CSX Corporation has an average rating of “Buy” and an average price target of $53.74.
Shares of CSX Corporation (CSX) opened at 50.27 on Friday. CSX Corporation has a 52 week low of $27.82 and a 52 week high of $55.48. The company has a 50 day moving average of $52.23 and a 200 day moving average of $50.22. The firm has a market cap of $45.91 billion, a PE ratio of 26.29 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. CSX Corporation’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that CSX Corporation will post $2.30 EPS for the current fiscal year.
CSX Corporation announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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In other news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CSX Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock valued at $3,147,122,000 after buying an additional 303,834 shares during the period. Janus Capital Management LLC boosted its position in shares of CSX Corporation by 32.9% in the first quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock worth $773,686,000 after buying an additional 4,114,395 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX Corporation by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock worth $483,191,000 after buying an additional 1,896,101 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CSX Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock worth $426,540,000 after buying an additional 648,154 shares during the last quarter. Finally, Brahman Capital Corp. bought a new position in shares of CSX Corporation during the first quarter worth about $257,229,000. 70.02% of the stock is 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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