CSX (CSX) PT Set at $55.00 by Scotiabank
A number of other research firms have also recently commented on CSX. Barclays reiterated a buy rating and set a $68.00 price objective on shares of CSX in a research report on Wednesday, December 13th. UBS set a $68.00 price objective on CSX and gave the stock a buy rating in a research report on Sunday, December 3rd. BidaskClub upgraded CSX from a sell rating to a hold rating in a research report on Wednesday, December 6th. Morgan Stanley cut CSX from an equal weight rating to an underweight rating and dropped their price objective for the stock from $44.00 to $43.00 in a research report on Monday, October 2nd. Finally, Credit Suisse Group raised their price target on CSX from $60.00 to $61.00 and gave the stock an outperform rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $56.73.
Shares of CSX (CSX) opened at $53.59 on Friday. The company has a market capitalization of $47,304.76, a PE ratio of 24.62, a P/E/G ratio of 1.63 and a beta of 1.35. CSX has a 52-week low of $35.59 and a 52-week high of $58.35. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, November 29th. CSX’s dividend payout ratio is currently 41.24%.
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 outstanding shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction dated Friday, November 24th. The shares were acquired 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 company. Parallel Advisors LLC lifted its stake in shares of CSX by 14.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 285 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of CSX during the 3rd quarter valued at about $308,000. Valeo Financial Advisors LLC purchased a new stake in shares of CSX during the 3rd quarter valued at about $196,000. ARGI Investment Services LLC purchased a new stake in shares of CSX during the 2nd quarter valued at about $208,000. Finally, BKS Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter valued at about $221,000. 70.24% of the stock is currently owned by institutional investors and hedge funds.
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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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