CSX Corporation (NASDAQ:CSX)‘s stock had its “hold” rating restated by equities researchers at Loop Capital in a report released on Saturday, July 22nd. They currently have a $54.00 price objective on the transportation company’s stock, up from their prior price objective of $52.00. Loop Capital’s target price would suggest a potential upside of 7.42% from the company’s previous close.
A number of other research analysts also recently issued reports on the company. UBS AG restated a “buy” rating and set a $63.00 price target on shares of CSX Corporation in a report on Saturday, July 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price objective on shares of CSX Corporation in a research report on Saturday, July 22nd. Zacks Investment Research cut CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. TD Securities cut their price objective on CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. Finally, JPMorgan Chase & Co. cut their price objective on CSX Corporation from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. 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. The stock presently has an average rating of “Buy” and a consensus price target of $53.74.
CSX Corporation (NASDAQ CSX) opened at 50.27 on Friday. The firm has a 50-day moving average price of $52.23 and a 200-day moving average price 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 has a one year low of $27.82 and a one year high of $55.48.
CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business earned $0.47 EPS. CSX Corporation’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that CSX Corporation will post $2.30 EPS for the current fiscal year.
CSX Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
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In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of CSX Corporation stock in a transaction dated Friday, July 21st. The stock was purchased at an average cost of $51.59 per share, for a total transaction of $70,007,630.00. Following the purchase, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.79% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Cbre Clarion Securities LLC raised its stake in CSX Corporation by 1.7% in the second quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock valued at $1,282,000 after buying an additional 400 shares during the period. Cibc World Markets Corp raised its stake in CSX Corporation by 105.7% in the second quarter. Cibc World Markets Corp now owns 198,987 shares of the transportation company’s stock valued at $10,857,000 after buying an additional 102,248 shares during the period. Wealthfront Inc. raised its stake in CSX Corporation by 19.7% in the second quarter. Wealthfront Inc. now owns 22,848 shares of the transportation company’s stock valued at $1,247,000 after buying an additional 3,759 shares during the period. Pinebridge Investments L.P. raised its stake in CSX Corporation by 515.7% in the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock valued at $488,000 after buying an additional 7,483 shares during the period. Finally, Abbot Financial Management Inc. bought a new stake in CSX Corporation during the second quarter valued at approximately $593,000. Hedge funds and other institutional investors own 70.02% of the company’s stock.
CSX Corporation 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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