TD Cowen Boosts CSX (NASDAQ:CSX) Price Target to $46.00

CSX (NASDAQ:CSX) had its price objective lifted by analysts at TD Cowen from $45.00 to $46.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would indicate a potential downside of 6.72% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of CSX from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Argus lifted their price target on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Jefferies Financial Group boosted their price target on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Bank of America restated a “buy” rating and issued a $53.00 price objective (up from $51.00) on shares of CSX in a research report on Wednesday, June 17th. Finally, Citigroup reaffirmed a “neutral” rating and set a $53.00 price objective (up from $46.00) on shares of CSX in a research note on Thursday. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.30.

CSX Stock Down 0.1%

Shares of CSX stock opened at $49.31 on Friday. The stock has a market cap of $91.63 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 2.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a 1 year low of $31.80 and a 1 year high of $49.55. The firm’s 50-day moving average is $46.49 and its two-hundred day moving average is $42.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, research analysts expect that CSX will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% 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 owned by corporate insiders.

Institutional Investors Weigh In On CSX

Hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. increased its holdings in shares of CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after purchasing an additional 98,977 shares during the last quarter. Captrust Financial Advisors raised its position in shares of CSX by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock valued at $15,345,000 after buying an additional 18,025 shares during the period. Miller Howard Investments Inc. NY raised its position in shares of CSX by 6.8% during the 1st quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company’s stock valued at $9,803,000 after buying an additional 15,310 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in CSX by 2.4% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 189,288 shares of the transportation company’s stock valued at $6,862,000 after acquiring an additional 4,476 shares during the last quarter. Finally, Pinebridge Investments LLC purchased a new position in CSX in the fourth quarter worth approximately $5,979,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

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.