Citigroup Lowers CSX (NASDAQ:CSX) Price Target to $36.00

CSX (NASDAQ:CSX) had its price target cut by analysts at Citigroup from $39.00 to $36.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price would suggest a potential upside of 25.61% from the stock’s previous close.

A number of other brokerages have also weighed in on CSX. Royal Bank of Canada decreased their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Raymond James restated an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of CSX in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $35.85.

CSX Stock Performance

NASDAQ CSX opened at $28.66 on Tuesday. The stock has a market capitalization of $54.02 billion, a PE ratio of 16.01, a P/E/G ratio of 1.92 and a beta of 1.23. The business has a 50 day simple moving average of $30.77 and a two-hundred day simple moving average of $32.80. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX has a 1-year low of $26.22 and a 1-year high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CSX. Bourgeon Capital Management LLC boosted its position in shares of CSX by 1.0% during the first quarter. Bourgeon Capital Management LLC now owns 331,344 shares of the transportation company’s stock worth $9,751,000 after buying an additional 3,320 shares during the period. Merit Financial Group LLC raised its stake in shares of CSX by 25.0% in the first quarter. Merit Financial Group LLC now owns 32,091 shares of the transportation company’s stock valued at $944,000 after acquiring an additional 6,427 shares in the last quarter. Fragasso Financial Advisors Inc raised its stake in shares of CSX by 3.5% in the first quarter. Fragasso Financial Advisors Inc now owns 15,088 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 507 shares in the last quarter. NBC Securities Inc. raised its stake in shares of CSX by 94,100.0% in the first quarter. NBC Securities Inc. now owns 6,594 shares of the transportation company’s stock valued at $194,000 after acquiring an additional 6,587 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of CSX by 5.9% in the first quarter. Czech National Bank now owns 442,928 shares of the transportation company’s stock valued at $13,035,000 after acquiring an additional 24,808 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.