CSX (CSX) Rating Reiterated by Cowen
Cowen restated their outperform rating on shares of CSX (NASDAQ:CSX) in a research report report published on Friday morning. They currently have a $62.00 price objective on the transportation company’s stock, up from their prior price objective of $61.00.
A number of other research analysts also recently issued reports on CSX. Scotiabank set a $63.00 price target on CSX and gave the company a hold rating in a report on Friday. Morgan Stanley lowered their price target on CSX from $51.00 to $47.00 and set an underweight rating on the stock in a report on Friday. Credit Suisse Group lowered their price target on CSX from $67.00 to $65.00 and set an outperform rating on the stock in a report on Friday. UBS Group set a $72.00 price target on CSX and gave the company a buy rating in a report on Friday. Finally, BidaskClub downgraded CSX from a hold rating to a sell rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $60.29.
CSX (NASDAQ CSX) traded up $0.52 during trading on Friday, reaching $55.04. The company’s stock had a trading volume of 11,118,912 shares, compared to its average volume of 7,630,000. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. CSX has a twelve month low of $45.41 and a twelve month high of $60.04. The company has a market capitalization of $49,300.00, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio is 40.93%.
CSX announced that its board has approved a share repurchase plan on Monday, February 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of CSX. First Command Financial Services Inc. increased its position in CSX by 130.0% during the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 1,200 shares during the last quarter. Prentiss Smith & Co. Inc. purchased a new stake in CSX in the fourth quarter worth about $119,000. Icon Wealth Partners LLC purchased a new stake in CSX in the fourth quarter worth about $126,000. Front Row Advisors LLC purchased a new stake in CSX in the fourth quarter worth about $135,000. Finally, Pinebridge Investments L.P. increased its position in CSX by 93.7% in the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock worth $186,000 after buying an additional 1,637 shares in the last quarter. Institutional investors own 69.50% of the company’s stock.
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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