CSX (NASDAQ:CSX) Price Target Lowered to $40.00 at BMO Capital Markets

CSX (NASDAQ:CSX) had its target price dropped by equities research analysts at BMO Capital Markets from $41.00 to $40.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ target price suggests a potential downside of 1.93% from the stock’s current price.

Several other analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on CSX from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Sanford C. Bernstein lifted their price objective on CSX from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday. Susquehanna reissued a “neutral” rating and issued a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Royal Bank Of Canada upped their target price on shares of CSX from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 26th. Finally, Argus raised their price target on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

CSX Stock Down 1.6%

NASDAQ:CSX opened at $40.79 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81. The firm has a market cap of $75.89 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.28 and a beta of 1.25. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $43.35. The firm has a 50-day simple moving average of $40.15 and a two-hundred day simple moving average of $37.15.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. Analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In other CSX news, CEO Stephen F. Angel acquired 25,000 shares of the stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the completion of the transaction, the chief accounting officer directly owned 165,613 shares in the company, valued at approximately $6,882,876.28. The trade was a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 188,123 shares of company stock valued at $7,454,854 in the last quarter. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently bought and sold shares of CSX. Twin Peaks Wealth Advisors LLC bought a new stake in CSX during the second quarter valued at about $25,000. FNY Investment Advisers LLC lifted its position in shares of CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the 2nd quarter valued at about $28,000. Pinnacle Bancorp Inc. grew its stake in shares of CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares during the period. Finally, CrossGen Wealth LLC purchased a new stake in CSX in the 4th quarter worth approximately $54,000. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.