CSX (NASDAQ:CSX) Given New $53.00 Price Target at Citigroup

CSX (NASDAQ:CSX) had its price objective reduced by analysts at Citigroup from $54.00 to $53.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 12.97% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Susquehanna cut their target price on shares of CSX from $59.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. JPMorgan Chase & Co. cut their price objective on CSX from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 price objective on shares of CSX in a research note on Friday, July 24th. Argus set a $56.00 target price on CSX in a report on Friday, July 31st. Finally, Citizens Jmp started coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $51.06.

CSX Price Performance

Shares of CSX stock traded down $0.58 during mid-day trading on Wednesday, reaching $46.91. 4,049,186 shares of the stock were exchanged, compared to its average volume of 12,525,693. The company has a market cap of $86.91 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The firm has a 50-day simple moving average of $49.21 and a 200 day simple moving average of $46.88. CSX has a fifty-two week low of $33.63 and a fifty-two week high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. On average, sell-side analysts predict that CSX will post 2 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michael Burns sold 13,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Angela Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CSX. Archer Investment Corp bought a new position in shares of CSX in the 2nd quarter worth $26,000. N.E.W. Advisory Services LLC bought a new stake in CSX in the second quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in CSX in the second quarter valued at about $29,000. Manning & Napier Advisors LLC acquired a new position in CSX in the second quarter valued at about $30,000. Finally, Arlington Trust Co LLC boosted its holdings in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

More CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Wall Street analysts collectively rate CSX “Moderate Buy,” indicating that analysts see potential for appreciation despite recent weakness. CSX Corporation Stock Rated Moderate Buy by Wall Street Analysts
• Positive Sentiment: The reported consensus price target of approximately $51.09 remains above the stock’s recent trading level, implying analysts expect additional upside. However, the shares still declined as the target was reported, suggesting investors may be focused on execution and valuation rather than target-price potential. CSX Stock Falls as Consensus Target Reaches $51.09
• Neutral Sentiment: CSX traded modestly higher in after-hours and pre-market indications, pointing to limited immediate follow-through from either buyers or sellers. CSX Pre-Market Trading
• Neutral Sentiment: CSX announced the return of its annual Santa Train to Appalachia on November 21. The community event supports the company’s public image but is unlikely to materially affect earnings or the stock. CSX Santa Train Returning to Eastern Kentucky
• Negative Sentiment: A Seeking Alpha analysis titled “Still Not Willing To Climb Aboard” reflects continued investor caution, potentially weighing on the stock alongside its elevated valuation of roughly 27 times earnings. CSX Corporation Still Not Willing to Climb Aboard

About CSX

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.