CSX Co. (CSX) Price Target Cut to $64.00
CSX Co. (NASDAQ:CSX) had its price objective cut by stock analysts at Royal Bank Of Canada from $65.00 to $64.00 in a research note issued to investors on Thursday. The firm currently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 27.46% from the stock’s current price.
Several other analysts have also recently issued reports on CSX. BidaskClub raised CSX from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. UBS AG reissued a “buy” rating and issued a $62.00 target price on shares of CSX in a research note on Monday, August 14th. BMO Capital Markets reissued a “buy” rating on shares of CSX in a research note on Wednesday, August 30th. Deutsche Bank AG reissued a “buy” rating on shares of CSX in a research note on Wednesday, August 2nd. Finally, Loop Capital reissued a “hold” rating and issued a $54.00 target price (up from $52.00) on shares of CSX in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the stock. CSX presently has an average rating of “Buy” and an average target price of $53.67.
CSX (NASDAQ:CSX) opened at 50.21 on Thursday. The firm has a market capitalization of $45.86 billion, a P/E ratio of 26.26 and a beta of 1.30. The stock has a 50 day moving average price of $49.91 and a 200-day moving average price of $50.52. CSX has a 52 week low of $27.89 and a 52 week high of $55.48. CSX also saw unusually large options trading on Tuesday. Traders purchased 13,300 call options on the stock. This is an increase of 387% compared to the average volume of 2,733 call options.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. CSX had a return on equity of 17.60% and a net margin of 17.39%. CSX’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. Analysts anticipate that CSX will post $2.30 EPS for the current fiscal year.
CSX declared that its Board of Directors has authorized a share 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 repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Ridge Lp Mantle acquired 1,357,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director now directly owns 106 shares in the company, valued at $5,468.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.79% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. United Services Automobile Association grew its position in CSX by 20.9% in the 1st quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock worth $26,705,000 after purchasing an additional 99,118 shares during the period. ClariVest Asset Management LLC bought a new stake in CSX in the 1st quarter worth approximately $13,531,000. Stratos Wealth Partners LTD. grew its position in CSX by 10.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock worth $639,000 after purchasing an additional 1,316 shares during the period. Westwood Holdings Group Inc. grew its position in CSX by 0.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 7,549 shares of the transportation company’s stock worth $351,000 after purchasing an additional 49 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in CSX by 31.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,861,202 shares of the transportation company’s stock worth $226,289,000 after purchasing an additional 1,152,841 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for CSX Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Co. and related stocks with our FREE daily email newsletter.