CSX Corporation (CSX) Rating Reiterated by UBS AG
CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reaffirmed by investment analysts at UBS AG in a report released on Monday. They currently have a $62.00 price objective on the transportation company’s stock. UBS AG’s price objective would indicate a potential upside of 21.26% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Aegis upgraded shares of CSX Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $64.00 in a research note on Friday, April 21st. BMO Capital Markets reiterated a “buy” rating and set a $58.00 target price on shares of CSX Corporation in a research note on Friday, April 21st. TD Securities reiterated a “buy” rating and set a $64.00 target price (up from $57.00) on shares of CSX Corporation in a research note on Friday, April 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of CSX Corporation in a research note on Friday, June 9th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $65.00 target price (up from $56.00) on shares of CSX Corporation in a research note on Tuesday, June 6th. One equities 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’s stock. The company has an average rating of “Buy” and an average price target of $53.71.
CSX Corporation (NASDAQ CSX) opened at 51.13 on Monday. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 26.74 and a beta of 1.30. CSX Corporation has a 12-month low of $27.82 and a 12-month high of $55.48. The stock has a 50 day moving average of $52.12 and a 200 day moving average of $50.30.
CSX Corporation (NASDAQ:CSX) last released its earnings results on Tuesday, July 18th. The transportation company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.47 EPS. Equities research analysts anticipate that CSX Corporation will post $2.30 earnings per share for the current year.
CSX Corporation announced that its Board of Directors has approved a share repurchase program on Thursday, April 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were purchased at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the acquisition, the director now directly owns 106 shares in the company, valued at $5,468.54. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.79% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $3,147,122,000 after buying an additional 303,834 shares in the last quarter. Janus Capital Management LLC raised its stake 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 in the last quarter. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, Brahman Capital Corp. acquired a new position in shares of CSX Corporation during the first quarter valued at about $257,229,000. 70.32% of the stock is currently 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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