CSX (NASDAQ:CSX) Price Target Cut to $38.00 by Analysts at BMO Capital Markets

CSX (NASDAQ:CSX) had its price target cut by investment analysts at BMO Capital Markets from $40.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. BMO Capital Markets’ price target indicates a potential upside of 16.19% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday. TD Cowen decreased their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.83.

CSX Price Performance

CSX traded down $0.96 during trading on Friday, reaching $32.71. The company’s stock had a trading volume of 11,305,965 shares, compared to its average volume of 14,528,602. The company has a market cap of $63.07 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.06 and a beta of 1.22. The firm has a fifty day simple moving average of $33.58 and a two-hundred day simple moving average of $33.95. CSX has a 1 year low of $31.43 and a 1 year high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, analysts anticipate that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Sector Pension Investment Board lifted its stake in CSX by 69.3% during the second quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock worth $2,495,000 after purchasing an additional 30,531 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of CSX by 300.9% during the 2nd quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock worth $18,007,000 after buying an additional 404,037 shares during the last quarter. AlTi Global Inc. boosted its holdings in shares of CSX by 5.2% in the 2nd quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock valued at $230,000 after buying an additional 342 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of CSX by 9.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock valued at $1,092,000 after buying an additional 2,860 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in CSX during the 2nd quarter worth $221,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.