CSX (NASDAQ:CSX) received a $51.00 target price from investment analysts at Morgan Stanley in a research note issued on Wednesday, January 17th. The brokerage presently has a “sell” rating on the transportation company’s stock. Morgan Stanley’s target price would suggest a potential upside of 0.22% from the company’s current price.
CSX has been the topic of several other reports. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird reiterated a “buy” rating and issued a $59.00 price objective on shares of CSX in a research report on Tuesday, January 9th. Royal Bank of Canada lifted their price objective on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Scotiabank downgraded shares of CSX from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $63.00 to $43.00 in a research report on Friday, January 12th. Finally, Barclays reiterated a “buy” rating and issued a $68.00 price objective on shares of CSX in a research report on Wednesday, December 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.19.
CSX (NASDAQ CSX) traded up $0.42 during trading on Wednesday, hitting $50.89. 11,496,312 shares of the stock were exchanged, compared to its average volume of 7,122,393. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.01. CSX has a one year low of $45.41 and a one year high of $60.04. The company has a market cap 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 posted its quarterly earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. equities analysts expect that CSX will post 3.11 EPS for the current year.
CSX declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Gary Keith Anderson bought 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were acquired at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. Insiders own 4.79% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Oakbrook Investments LLC increased its position in shares of CSX by 8.5% in the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 5,500 shares in the last quarter. Pinebridge Investments L.P. grew its position in CSX by 515.7% during the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock valued at $488,000 after purchasing an additional 7,483 shares in the last quarter. Canada Pension Plan Investment Board grew its position in CSX by 12.0% during the third quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock valued at $30,650,000 after purchasing an additional 60,300 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in CSX during the third quarter valued at approximately $633,000. Finally, South State Corp grew its position in CSX by 36.3% during the third quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after purchasing an additional 6,239 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors and hedge funds.
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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