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

CSX (NASDAQ:CSX) had its target price lowered by equities research analysts at Citigroup from $39.00 to $36.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price would indicate a potential upside of 34.88% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada lowered their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Barclays lowered their target price on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Raymond James restated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Susquehanna dropped their price target on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.05.

CSX Stock Down 1.5 %

Shares of NASDAQ CSX traded down $0.40 during midday trading on Tuesday, reaching $26.69. 22,183,756 shares of the company’s stock were exchanged, compared to its average volume of 12,581,694. The business’s fifty day moving average price is $31.19 and its two-hundred day moving average price is $32.97. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The stock has a market capitalization of $50.30 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last released its 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 return on equity of 28.15% and a net margin of 23.95%. Analysts forecast that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new stake in CSX during the third quarter worth about $211,000. Wellington Management Group LLP raised its position in CSX by 6.3% in the 3rd quarter. Wellington Management Group LLP now owns 102,550 shares of the transportation company’s stock valued at $3,541,000 after purchasing an additional 6,055 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in CSX during the 3rd quarter worth about $2,024,000. Nomura Asset Management Co. Ltd. grew its stake in shares of CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after purchasing an additional 41,547 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in CSX by 6.1% in the 3rd quarter. Continuum Advisory LLC now owns 25,259 shares of the transportation company’s stock valued at $900,000 after buying an additional 1,449 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.