CSX (NASDAQ:CSX) Cut to Neutral at Bank of America

CSX (NASDAQ:CSX) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They currently have a $37.00 price target on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 13.92% from the company’s previous close.

CSX has been the subject of a number of other research reports. Royal Bank of Canada decreased their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus raised their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus price target of $37.39.

CSX Price Performance

Shares of CSX stock opened at $32.48 on Monday. The stock has a 50 day moving average price of $33.37 and a 200 day moving average price of $35.09. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm has a market capitalization of $63.50 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.72 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, sell-side analysts predict that CSX will post 1.96 earnings per share for the current year.

Institutional Trading of CSX

A number of institutional investors have recently made changes to their positions in CSX. Fortitude Family Office LLC purchased a new position in shares of CSX in the fourth quarter worth $27,000. Life Planning Partners Inc purchased a new position in CSX in the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX during the 1st quarter worth about $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the 4th quarter valued at about $34,000. Finally, Burkett Financial Services LLC acquired a new position in shares of CSX in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.