CSX (NASDAQ:CSX) Price Target Cut to $46.00 by Analysts at Bank of America

CSX (NASDAQ:CSX) had its price objective cut by stock analysts at Bank of America from $48.00 to $46.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 16.00% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CSX. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, December 18th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $36.00 price target (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Evercore decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Rothschild & Co Redburn upped their target price on CSX from $39.00 to $42.50 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. dropped their price objective on CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.44.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.69 on Thursday, reaching $39.65. 4,115,304 shares of the company’s stock were exchanged, compared to its average volume of 13,954,146. CSX has a twelve month low of $26.22 and a twelve month high of $43.35. The company has a fifty day moving average of $39.03 and a 200-day moving average of $36.40. The company has a market capitalization of $73.74 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.09 and a beta of 1.27. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38.

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

Insider Buying and Selling at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the transaction, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is currently owned by insiders.

Institutional Trading of CSX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strengthening Families & Communities LLC bought a new position in shares of CSX in the 3rd quarter worth about $2,199,000. Rathbones Group PLC boosted its holdings in shares of CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after buying an additional 35,403 shares in the last quarter. Canada Post Corp Registered Pension Plan grew its position in shares of CSX by 131.0% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock worth $2,577,000 after buying an additional 40,780 shares during the period. Allstate Corp bought a new stake in shares of CSX in the 3rd quarter valued at $2,363,000. Finally, Reaves W H & Co. Inc. bought a new position in CSX during the third quarter worth $5,326,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

About CSX

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.