CSX (CSX) Price Target Cut to $72.00

CSX (NASDAQ:CSX) had its target price decreased by UBS Group from $74.00 to $72.00 in a research report report published on Wednesday, 99wallstreet.com reports. UBS Group currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Cowen reaffirmed a market perform rating and set a $61.00 price target (up previously from $54.00) on shares of CSX in a report on Wednesday. Morgan Stanley set a $51.00 price target on CSX and gave the company a sell rating in a report on Wednesday. Scotiabank set a $63.00 price target on CSX and gave the company a hold rating in a report on Wednesday. BidaskClub raised CSX from a hold rating to a buy rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada lifted their price target on CSX from $59.00 to $67.00 and gave the company an outperform rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. CSX has an average rating of Buy and an average target price of $60.38.

Shares of CSX (CSX) traded down $0.56 during midday trading on Wednesday, reaching $57.49. 7,386,493 shares of the company’s stock were exchanged, compared to its average volume of 5,352,751. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. CSX has a 1 year low of $42.88 and a 1 year high of $60.04. The company has a market capitalization of $51,380.14, a PE ratio of 9.47, a P/E/G ratio of 1.42 and a beta of 1.35.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. research analysts anticipate that CSX will post 3.07 earnings per share for the current year.

CSX declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other CSX news, Director Gary Keith Anderson purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Insiders own 4.79% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. V Wealth Management LLC grew its position in CSX by 54.9% in the fourth quarter. V Wealth Management LLC now owns 8,436 shares of the transportation company’s stock worth $473,000 after buying an additional 2,991 shares during the last quarter. State of Alaska Department of Revenue grew its position in CSX by 531.2% in the fourth quarter. State of Alaska Department of Revenue now owns 100,147 shares of the transportation company’s stock worth $5,507,000 after buying an additional 84,280 shares during the last quarter. BKD Wealth Advisors LLC grew its position in CSX by 5.1% in the fourth quarter. BKD Wealth Advisors LLC now owns 50,908 shares of the transportation company’s stock worth $2,800,000 after buying an additional 2,467 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its position in CSX by 8.4% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 20,227 shares of the transportation company’s stock worth $1,113,000 after buying an additional 1,575 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in CSX in the fourth quarter worth approximately $600,000. Hedge funds and other institutional investors own 70.17% of the company’s stock.

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CSX 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.

Analyst Recommendations for CSX (NASDAQ:CSX)

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