CSX (CSX) Raised to “Buy” at BidaskClub

CSX (NASDAQ:CSX) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

CSX has been the topic of a number of other research reports. Deutsche Bank upped their price objective on CSX from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, June 19th. Citigroup upped their price objective on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. Bank of America upped their price objective on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, UBS Group set a $82.00 price objective on CSX and gave the stock a “buy” rating in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. CSX presently has a consensus rating of “Buy” and a consensus price target of $70.86.

Shares of CSX stock opened at $74.55 on Friday. CSX has a 12-month low of $48.26 and a 12-month high of $76.24. The company has a market cap of $63.59 billion, a PE ratio of 32.41, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.15. CSX had a return on equity of 19.31% and a net margin of 53.27%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts expect that CSX will post 3.61 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of CSX. Egerton Capital UK LLP acquired a new position in CSX in the 2nd quarter valued at $440,710,000. Standard Life Aberdeen plc grew its holdings in CSX by 4.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock valued at $414,760,000 after buying an additional 301,707 shares in the last quarter. Morgan Stanley grew its holdings in CSX by 13.6% in the 2nd quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock valued at $404,409,000 after buying an additional 757,521 shares in the last quarter. Millennium Management LLC grew its holdings in CSX by 13.3% in the 2nd quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after buying an additional 569,310 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in CSX by 1.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,281,613 shares of the transportation company’s stock valued at $209,302,000 after buying an additional 46,078 shares in the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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