Benchmark Increases CSX (NASDAQ:CSX) Price Target to $40.00

CSX (NASDAQ:CSX) had its price target increased by equities researchers at Benchmark from $38.00 to $40.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Benchmark’s price target would suggest a potential upside of 12.90% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. TD Cowen boosted their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Raymond James boosted their price target on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. dropped their price target on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, December 21st. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy 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 $37.17.

CSX Stock Performance

Shares of CSX stock opened at $35.43 on Wednesday. The stock has a market capitalization of $69.36 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.18. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The stock’s 50-day moving average price is $37.14 and its 200 day moving average price is $34.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, equities research analysts forecast that CSX will post 1.96 EPS for the current year.

Institutional Investors Weigh In On CSX

Institutional investors have recently modified their holdings of the company. West Tower Group LLC purchased a new stake in shares of CSX during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc acquired a new position in shares of CSX during the 4th quarter worth approximately $27,000. Fortis Capital Advisors LLC acquired a new position in shares of CSX during the 4th quarter worth approximately $27,000. Finally, Burkett Financial Services LLC acquired a new position in shares of CSX during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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.