Barclays Lowers CSX (NASDAQ:CSX) Price Target to $40.00

CSX (NASDAQ:CSX) had its price target lowered by investment analysts at Barclays from $41.00 to $40.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective indicates a potential upside of 17.99% from the company’s current price.

CSX has been the subject of a number of other research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Susquehanna boosted their price objective on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $38.93.

CSX Stock Performance

Shares of CSX stock opened at $33.90 on Wednesday. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $66.27 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.91 and a beta of 1.19. The company’s fifty day moving average price is $33.95 and its two-hundred day moving average price is $34.28.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, research analysts anticipate that CSX will post 1.93 earnings per share for the current fiscal year.

Institutional Trading of CSX

A number of large investors have recently added to or reduced their stakes in CSX. Gilbert & Cook Inc. boosted its stake in CSX by 4.4% in the 4th quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after purchasing an additional 798 shares during the period. 9258 Wealth Management LLC boosted its stake in CSX by 8.0% in the 4th quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock worth $422,000 after purchasing an additional 900 shares during the period. Gryphon Financial Partners LLC boosted its stake in CSX by 7.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock worth $693,000 after purchasing an additional 1,422 shares during the period. SageView Advisory Group LLC boosted its stake in CSX by 13.2% in the 4th quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock worth $264,000 after purchasing an additional 858 shares during the period. Finally, TD Asset Management Inc boosted its stake in CSX by 26.1% in the 4th quarter. TD Asset Management Inc now owns 2,052,203 shares of the transportation company’s stock worth $71,150,000 after purchasing an additional 424,278 shares during the period. 73.57% of the stock is currently owned by 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.