TD Cowen Cuts CSX (NASDAQ:CSX) Price Target to $35.00

CSX (NASDAQ:CSX) had its target price cut by analysts at TD Cowen from $36.00 to $35.00 in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective would indicate a potential downside of 1.33% from the company’s previous close.

A number of other research firms also recently weighed in on CSX. BMO Capital Markets decreased their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein lifted their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.88.

CSX Trading Down 0.1 %

NASDAQ CSX opened at $35.47 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $69.34 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.90 and a beta of 1.19. CSX has a one year low of $29.03 and a one year high of $40.12. The stock’s 50-day moving average is $34.05 and its 200-day moving average is $33.99.

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

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of CSX during the 2nd quarter worth $26,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the 1st quarter worth $29,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter worth $27,000. Fairscale Capital LLC bought a new stake in shares of CSX during the 2nd quarter worth $32,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.