CSX (NASDAQ:CSX) Price Target Raised to $42.00 at Argus

CSX (NASDAQ:CSX) had its price objective hoisted by stock analysts at Argus from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the transportation company’s stock. Argus’ target price suggests a potential upside of 11.36% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Stephens upped their target price on CSX from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Barclays restated an “overweight” rating on shares of CSX in a report on Monday, October 20th. Susquehanna reiterated a “neutral” rating and issued a $39.00 price objective on shares of CSX in a research note on Friday. Evercore ISI cut their target price on shares of CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.42.

CSX Trading Up 0.7%

Shares of NASDAQ CSX traded up $0.25 during midday trading on Tuesday, reaching $37.72. The stock had a trading volume of 1,572,342 shares, compared to its average volume of 15,510,156. The company’s 50 day moving average price is $35.96 and its 200 day moving average price is $35.17. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.71 and a current ratio of 0.81. CSX has a twelve month low of $26.22 and a twelve month high of $38.11. The firm has a market cap of $70.23 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. CSX’s quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently bought and sold shares of CSX. Cbre Investment Management Listed Real Assets LLC increased its position in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after buying an additional 425,395 shares during the last quarter. Reaves W H & Co. Inc. purchased a new stake in CSX in the 3rd quarter worth about $5,326,000. Allstate Corp bought a new stake in CSX in the 3rd quarter valued at about $2,363,000. Strengthening Families & Communities LLC bought a new stake in CSX in the 3rd quarter valued at about $2,199,000. Finally, Farther Finance Advisors LLC lifted its holdings in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock valued at $2,661,000 after purchasing an additional 45,116 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.