CSX (NASDAQ:CSX) PT Lowered to $39.00 at Bank of America

CSX (NASDAQ:CSX) had its price target dropped by analysts at Bank of America from $40.00 to $39.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 14.17% from the stock’s current price.

Several other research firms have also recently issued reports on CSX. Jefferies Financial Group started coverage on CSX in a research note on Monday, April 8th. They set a “hold” rating and a $40.00 target price on the stock. Benchmark upped their price target on CSX from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Raymond James upped their price target on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. TD Cowen upped their price target on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Finally, Susquehanna upped their price target on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

CSX Stock Performance

Shares of CSX stock opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a 50 day moving average price of $36.98 and a two-hundred day moving average price of $34.32. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.57, a PEG ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Analysts expect that CSX will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. West Tower Group LLC bought a new position in shares of CSX during the fourth quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of CSX during the fourth quarter valued at $27,000. Life Planning Partners Inc bought a new position in shares of CSX during the fourth quarter valued at $27,000. Fortis Capital Advisors LLC bought a new position in shares of CSX during the fourth quarter valued at $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX during the first quarter valued at $29,000. 73.57% of the stock is owned by institutional investors.

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.