CSX (NASDAQ:CSX) Lifted to “Hold” at BidaskClub
A number of other brokerages have also recently issued reports on CSX. Credit Suisse Group reduced their target price on shares of CSX from $92.00 to $86.00 and set an outperform rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on shares of CSX to $75.00 and set a sector perform rating for the company in a research report on Wednesday, July 17th. Stephens cut shares of CSX from an overweight rating to an equal weight rating and reduced their target price for the company from $86.00 to $79.00 in a research report on Wednesday, July 17th. Goldman Sachs Group started coverage on shares of CSX in a research report on Wednesday, July 10th. They issued a neutral rating and a $86.00 target price for the company. Finally, Loop Capital cut shares of CSX from a buy rating to a hold rating and reduced their target price for the company from $85.00 to $81.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $78.13.
Shares of CSX stock traded up $0.92 during trading on Thursday, reaching $72.47. The company’s stock had a trading volume of 5,506,692 shares, compared to its average volume of 4,896,294. The business’s 50-day moving average price is $66.93 and its 200-day moving average price is $73.76. The firm has a market cap of $57.92 billion, a PE ratio of 18.87, a P/E/G ratio of 1.32 and a beta of 1.23. CSX has a 52 week low of $58.47 and a 52 week high of $80.73. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.96 annualized dividend and a yield of 1.32%. CSX’s dividend payout ratio is 25.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of CSX. Geode Capital Management LLC raised its stake in CSX by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after acquiring an additional 646,745 shares in the last quarter. SG Americas Securities LLC raised its stake in CSX by 104.6% during the first quarter. SG Americas Securities LLC now owns 6,183 shares of the transportation company’s stock worth $463,000 after acquiring an additional 142,010 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of CSX in the first quarter valued at approximately $488,000. Cornerstone Advisors Inc. increased its stake in shares of CSX by 14.5% in the first quarter. Cornerstone Advisors Inc. now owns 2,828 shares of the transportation company’s stock valued at $212,000 after buying an additional 358 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of CSX by 39.3% in the first quarter. Cetera Advisors LLC now owns 11,523 shares of the transportation company’s stock valued at $858,000 after buying an additional 3,252 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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