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 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.
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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