CSX (NASDAQ:CSX) Price Target Raised to $44.00 at Citigroup

CSX (NASDAQ:CSX) had its price target upped by equities research analysts at Citigroup from $42.00 to $44.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price points to a potential upside of 21.72% from the company’s current price.

Several other research firms have also recently weighed in on CSX. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada cut their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company reduced their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital decreased their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.72.

CSX Stock Down 1.0 %

Shares of CSX stock traded down $0.37 on Tuesday, hitting $36.15. The company had a trading volume of 4,478,311 shares, compared to its average volume of 11,706,998. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $69.71 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.28 and a beta of 1.19. The stock has a 50 day moving average of $34.19 and a 200-day moving average of $33.84. CSX has a 1 year low of $30.30 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts forecast that CSX will post 1.84 earnings per share for the current year.

Hedge Funds Weigh In On CSX

Several institutional investors have recently added to or reduced their stakes in the company. Interval Partners LP boosted its holdings in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the second quarter worth $116,430,000. M&G Plc bought a new stake in CSX during the first quarter valued at about $126,089,000. Assenagon Asset Management S.A. lifted its position in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its position in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares in the last quarter. 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.