CSX (NASDAQ:CSX) PT Lowered to $40.00 at Susquehanna

CSX (NASDAQ:CSX) had its price objective cut by analysts at Susquehanna from $42.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 18.55% from the company’s current price.

Several other research firms have also recently issued reports on CSX. Sanford C. Bernstein upped their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.83.

CSX Stock Performance

Shares of CSX traded down $1.73 during mid-day trading on Thursday, reaching $33.74. 7,788,885 shares of the company’s stock traded hands, compared to its average volume of 11,479,732. The business’s 50-day moving average price is $34.05 and its 200-day moving average price is $33.99. The stock has a market capitalization of $65.96 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the firm earned $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts predict that CSX will post 1.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CSX. Interval Partners LP lifted its position in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of CSX during the second quarter valued at about $116,430,000. M&G Plc acquired a new position in shares of CSX during the first quarter valued at about $126,089,000. Wulff Hansen & CO. raised its position in shares of CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the last quarter. 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.