BidaskClub Upgrades CSX (CSX) to Hold
CSX (NASDAQ:CSX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
Several other research analysts have also commented on the company. Bank of America reduced their price target on CSX from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, January 19th. Argus lifted their price target on CSX from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Scotiabank reduced their price target on CSX from $63.00 to $62.50 and set a “sector perform” rating on the stock in a report on Thursday, January 18th. Finally, TD Securities lifted their price target on CSX from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $60.23.
CSX (NASDAQ:CSX) opened at $56.10 on Friday. CSX has a fifty-two week low of $45.41 and a fifty-two week high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $49,770.00, a price-to-earnings ratio of 26.09, a PEG ratio of 1.36 and a beta of 1.26.
CSX declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Gary Keith Anderson bought 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was bought at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. Insiders own 4.79% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oakbrook Investments LLC grew its position in CSX by 8.5% in the 3rd quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 5,500 shares in the last quarter. Canada Pension Plan Investment Board grew its position in CSX by 12.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock valued at $30,650,000 after acquiring an additional 60,300 shares in the last quarter. P.R. Herzig & Co. Inc. acquired a new position in CSX in the 4th quarter valued at about $718,000. Steward Partners Investment Advisory LLC acquired a new position in CSX in the 3rd quarter valued at about $633,000. Finally, South State Corp grew its position in CSX by 36.3% in the 3rd quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after acquiring an additional 6,239 shares in the last quarter. 69.63% of the stock is owned by institutional investors.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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