CSX (NASDAQ:CSX) Price Target Raised to $36.00

CSX (NASDAQ:CSXFree Report) had its price objective boosted by TD Cowen from $32.00 to $36.00 in a research note released on Thursday, MarketBeat.com reports. TD Cowen currently has a market perform rating on the transportation company’s stock.

A number of other brokerages have also commented on CSX. JPMorgan Chase & Co. decreased their price objective on CSX from $40.00 to $39.00 and set an overweight rating for the company in a research report on Thursday, December 21st. Susquehanna upgraded CSX from a neutral rating to a positive rating in a research report on Monday, January 8th. Raymond James raised their price objective on CSX from $35.00 to $38.00 and gave the stock an outperform rating in a research report on Tuesday, January 16th. Benchmark restated a buy rating and set a $37.00 price objective on shares of CSX in a research report on Friday, October 20th. Finally, Royal Bank of Canada decreased their price objective on CSX from $35.00 to $34.00 and set a sector perform rating for the company in a research report on Friday, October 20th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $36.24.

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CSX Trading Up 1.1 %

NASDAQ:CSX opened at $35.39 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.50. CSX has a 1-year low of $27.60 and a 1-year high of $35.50. The firm has a market capitalization of $69.94 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The stock has a fifty day simple moving average of $33.96 and a 200 day simple moving average of $32.13.

CSX (NASDAQ:CSXGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. CSX had a return on equity of 30.48% and a net margin of 25.35%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company posted $0.49 EPS. CSX’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts forecast that CSX will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its position in CSX by 101,926.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after buying an additional 23,300,381 shares during the period. Capital International Investors increased its position in CSX by 181.1% in the 2nd quarter. Capital International Investors now owns 31,241,274 shares of the transportation company’s stock worth $1,065,128,000 after buying an additional 20,126,839 shares during the period. Norges Bank bought a new position in CSX in the 4th quarter worth approximately $621,349,000. First Trust Advisors LP increased its position in CSX by 558.0% in the 1st quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after buying an additional 5,767,302 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock worth $195,059,000 after buying an additional 4,158,204 shares during the period. 72.76% of the stock is owned by institutional investors.

CSX Company Profile

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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 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.

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