CSX Corporation (CSX) Lifted to “Sell” at BidaskClub
CSX Corporation (NASDAQ:CSX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.
A number of other research firms have also commented on CSX. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price objective on shares of CSX Corporation in a research note on Friday, April 21st. Aegis raised CSX Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $64.00 in a research note on Friday, April 21st. TD Securities reaffirmed a “buy” rating and issued a $64.00 price objective (up from $57.00) on shares of CSX Corporation in a research note on Friday, April 21st. UBS AG reaffirmed a “buy” rating and issued a $60.00 price objective (up from $57.00) on shares of CSX Corporation in a research note on Monday, April 24th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price objective on shares of CSX Corporation in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the stock. CSX Corporation has an average rating of “Buy” and a consensus price target of $53.74.
Shares of CSX Corporation (CSX) traded down 0.20% during mid-day trading on Thursday, reaching $50.60. 412,805 shares of the company traded hands. The stock’s 50 day moving average is $52.36 and its 200 day moving average is $50.19. CSX Corporation has a 52-week low of $27.82 and a 52-week high of $55.48. The stock has a market capitalization of $46.21 billion, a PE ratio of 26.46 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. On average, analysts anticipate that CSX Corporation will post $2.30 earnings per share for the current year.
CSX Corporation announced that its Board of Directors has initiated a stock buyback program on Thursday, April 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the transportation company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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In related news, Director Ridge Lp Mantle purchased 1,357,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the acquisition, the director now owns 106 shares of the company’s stock, valued at approximately $5,468.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.79% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of CSX Corporation by 16.4% in the second quarter. Schroder Investment Management Group now owns 1,243,903 shares of the transportation company’s stock worth $66,946,000 after buying an additional 175,540 shares during the period. Atlantic Trust Group LLC increased its position in shares of CSX Corporation by 12.8% in the second quarter. Atlantic Trust Group LLC now owns 17,820 shares of the transportation company’s stock worth $972,000 after buying an additional 2,027 shares during the period. ARGI Investment Services LLC acquired a new position in shares of CSX Corporation during the second quarter worth about $208,000. BKS Advisors LLC acquired a new position in shares of CSX Corporation during the second quarter worth about $221,000. Finally, Parallel Advisors LLC increased its position in shares of CSX Corporation by 14.9% in the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 70.02% of the company’s stock.
CSX Corporation Company Profile
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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