CSX (CSX) Stock Rating Reaffirmed by Barclays
CSX (NASDAQ:CSX)‘s stock had its “buy” rating reiterated by research analysts at Barclays in a research note issued to investors on Wednesday. They currently have a $68.00 target price on the transportation company’s stock. Barclays’ price objective suggests a potential upside of 19.34% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Stifel Nicolaus reissued a “hold” rating and set a $55.00 price objective (down previously from $57.00) on shares of CSX in a report on Thursday, September 7th. Morgan Stanley lowered shares of CSX from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $44.00 to $43.00 in a report on Monday, October 2nd. Finally, J P Morgan Chase & Co increased their price objective on shares of CSX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. CSX has an average rating of “Buy” and a consensus price target of $57.27.
Shares of CSX (NASDAQ:CSX) opened at $56.98 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. CSX has a fifty-two week low of $35.59 and a fifty-two week high of $58.25. The firm has a market cap of $50,459.61, a PE ratio of 26.26, a PEG ratio of 1.74 and a beta of 1.35.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. CSX had a net margin of 15.45% and a return on equity of 17.28%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 1.2% on a year-over-year basis. research analysts expect that CSX will post 2.22 earnings per share for the current year.
CSX declared that its board has initiated a share repurchase plan on Wednesday, October 25th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Gary Keith Anderson purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. Company insiders own 4.79% of the company’s stock.
Several large investors have recently made changes to their positions in CSX. Lord Abbett & CO. LLC raised its position in shares of CSX by 29.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after acquiring an additional 565,529 shares during the period. Cohen & Steers Inc. raised its position in shares of CSX by 31.3% in the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock valued at $97,751,000 after acquiring an additional 429,795 shares during the period. Eaton Vance Management raised its position in shares of CSX by 6.9% in the 2nd quarter. Eaton Vance Management now owns 5,126,177 shares of the transportation company’s stock valued at $279,684,000 after acquiring an additional 333,005 shares during the period. Schroder Investment Management Group raised its holdings in CSX by 16.4% during the 2nd 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. Finally, Russell Investments Group Ltd. raised its holdings in CSX by 10.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after buying an additional 149,208 shares during the period. Institutional investors and hedge funds own 70.24% of the company’s stock.
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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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