CSX (NASDAQ:CSX) Given New $60.00 Price Target at Susquehanna

CSX (NASDAQ:CSX) had its target price increased by research analysts at Susquehanna from $55.00 to $60.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “positive” rating on the transportation company’s stock. Susquehanna‘s target price suggests a potential upside of 16.42% from the stock’s previous close.

Several other research firms have also weighed in on CSX. Morgan Stanley set a $32.00 price objective on CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Argus set a $56.00 target price on CSX in a research note on Friday, July 31st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $49.00 target price on shares of CSX in a report on Thursday. Citizens Jmp assumed coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Finally, Evercore set a $53.00 price target on CSX in a research note on Friday. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.20.

CSX Trading Up 0.4%

Shares of CSX traded up $0.23 during trading hours on Tuesday, hitting $51.54. 714,455 shares of the stock were exchanged, compared to its average volume of 12,380,921. CSX has a fifty-two week low of $33.63 and a fifty-two week high of $53.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. The business has a 50-day moving average of $48.72 and a 200-day moving average of $45.10. The firm has a market capitalization of $95.00 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. CSX’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, research analysts expect that CSX will post 2.01 EPS for the current year.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the company. Washington Trust Advisors Inc. boosted its stake in shares of CSX by 7.2% in the 2nd quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock valued at $149,000 after purchasing an additional 211 shares during the last quarter. PFG Private Wealth Management LLC raised its stake in CSX by 2.7% during the third quarter. PFG Private Wealth Management LLC now owns 8,309 shares of the transportation company’s stock worth $386,000 after buying an additional 217 shares during the last quarter. Kintegral Advisory LLC raised its stake in CSX by 0.6% during the third quarter. Kintegral Advisory LLC now owns 40,384 shares of the transportation company’s stock worth $1,878,000 after buying an additional 228 shares during the last quarter. Cyndeo Wealth Partners LLC raised its stake in CSX by 1.9% during the third quarter. Cyndeo Wealth Partners LLC now owns 13,194 shares of the transportation company’s stock worth $614,000 after buying an additional 244 shares during the last quarter. Finally, Arlington Trust Co LLC grew its holdings in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Company Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.