Loop Capital Reaffirms Hold Rating for CSX Corporation (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Loop Capital in a research note issued to investors 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 price target would indicate a potential upside of 10.70% from the company’s previous close.

Several other brokerages also recently weighed in on CSX. Stifel Nicolaus upped their target price on shares of CSX Corporation from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, April 20th. TD Securities decreased their target price on shares of CSX Corporation from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of CSX Corporation in a research note on Friday, June 9th. Cowen and Company reiterated a “market perform” rating and set a $54.00 price objective (up from $48.00) on shares of CSX Corporation in a research note on Sunday, April 23rd. Finally, Barclays PLC increased their price objective on shares of CSX Corporation from $4.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, March 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $53.71.

Shares of CSX Corporation (NASDAQ CSX) traded down 0.20% on Friday, hitting $48.78. The company’s stock had a trading volume of 6,910,756 shares. The firm has a market cap of $44.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.30. The stock has a 50-day moving average price of $51.73 and a 200 day moving average price of $50.30. CSX Corporation has a one year low of $27.89 and a one year high of $55.48.

CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The company 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%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities research analysts predict that CSX Corporation will post $2.30 EPS for the current year.

CSX Corporation declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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In other news, Director Ridge Lp Mantle bought 1,357,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was bought at an average cost of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the acquisition, the director now directly owns 106 shares in the company, valued at approximately $5,468.54. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.79% of the company’s stock.

Several hedge funds have recently bought and sold shares of CSX. Advisory Services Network LLC boosted its stake in CSX Corporation by 2.6% in the second quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock valued at $1,186,000 after buying an additional 557 shares in the last quarter. Piedmont Investment Advisors LLC raised its position in shares of CSX Corporation by 12.9% in the second quarter. Piedmont Investment Advisors LLC now owns 228,522 shares of the transportation company’s stock valued at $12,468,000 after buying an additional 26,057 shares during the last quarter. Laurel Wealth Advisors Inc. acquired a new position in shares of CSX Corporation during the second quarter valued at $226,000. Cbre Clarion Securities LLC raised its position in shares of 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 last quarter. Finally, Cibc World Markets Corp raised its position in shares of 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 last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

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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