Bank of America Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its price objective boosted by stock analysts at Bank of America from $30.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential upside of 2.60% from the stock’s previous close.

Several other brokerages have also commented on CSX. Evercore ISI lowered their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus lowered their price target on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Raymond James reissued an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group decreased their target price on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.90.

CSX Trading Up 5.1%

NASDAQ:CSX traded up $1.48 during trading hours on Monday, hitting $30.22. The company had a trading volume of 2,793,528 shares, compared to its average volume of 12,706,258. The company has a market capitalization of $56.76 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The stock has a 50-day moving average price of $28.78 and a 200 day moving average price of $31.84. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the 4th quarter worth $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in CSX during the fourth quarter valued at about $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.