Cowen restated their market perform rating on shares of CSX (NASDAQ:CSX) in a research report released on Wednesday, January 17th, MarketBeat Ratings reports. Cowen currently has a $61.00 price target on the transportation company’s stock, up from their previous price target of $54.00.
Several other brokerages have also recently weighed in on CSX. ValuEngine cut shares of CSX from a buy rating to a hold rating in a research report on Monday, October 2nd. Scotiabank set a $63.00 price objective on shares of CSX and gave the company a hold rating in a research report on Wednesday, January 17th. Barclays boosted their price objective on shares of CSX from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, October 18th. UBS Group set a $68.00 target price on shares of CSX and gave the company a buy rating in a research note on Monday, October 16th. Finally, Robert W. Baird reissued a buy rating and set a $59.00 target price on shares of CSX in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. The company has an average rating of Buy and an average target price of $60.19.
Shares of CSX (NASDAQ CSX) traded up $0.42 during trading hours on Wednesday, reaching $50.89. 11,496,312 shares of the company’s stock traded hands, compared to its average volume of 7,122,393. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.01 and a quick ratio of 0.86. CSX has a twelve month low of $45.41 and a twelve month high of $60.04. The stock has a market capitalization of $45,151.44, a P/E ratio of 8.38, a P/E/G ratio of 1.23 and a beta of 1.26.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. research analysts expect that CSX will post 3.11 EPS for the current year.
CSX declared that its board has initiated a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Gary Keith Anderson acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.
A number of large investors have recently modified their holdings of CSX. Bank of New York Mellon Corp grew its stake in shares of CSX by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock worth $537,511,000 after purchasing an additional 60,453 shares during the period. APG Asset Management N.V. grew its stake in shares of CSX by 25.0% during the 4th quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock worth $147,450,000 after purchasing an additional 644,500 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of CSX by 0.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock valued at $174,884,000 after buying an additional 12,684 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of CSX by 4.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after buying an additional 113,493 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of CSX by 29.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after buying an additional 565,529 shares in the last quarter. Institutional investors own 69.94% of the company’s stock.
CSX Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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