Susquehanna Cuts CSX (NASDAQ:CSX) Price Target to $55.00

CSX (NASDAQ:CSX) had its target price cut by equities research analysts at Susquehanna from $59.00 to $55.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price target would indicate a potential upside of 18.18% from the stock’s current price.

CSX has been the subject of several other research reports. Raymond James Financial reissued an “outperform” rating and set a $56.00 price objective on shares of CSX in a report on Monday, July 13th. TD Cowen raised their price target on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Robert W. Baird lifted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial set a $46.00 target price on CSX in a research report on Friday, July 10th. Finally, Stifel Nicolaus set a $54.00 target price on shares of CSX in a report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.13.

CSX Trading Up 0.1%

CSX stock opened at $46.54 on Friday. CSX has a 1 year low of $33.63 and a 1 year high of $53.60. The firm’s 50 day moving average price is $49.48 and its 200-day moving average price is $46.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The stock has a market cap of $86.21 billion, a P/E ratio of 26.90, a PEG ratio of 2.19 and a beta of 1.21.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts predict that CSX will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling at CSX

In other news, SVP Michael Burns sold 13,000 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angela Williams sold 30,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CSX

Several large investors have recently added to or reduced their stakes in CSX. Evolve Private Wealth LLC purchased a new stake in shares of CSX in the second quarter valued at approximately $693,000. M. Kulyk & Associates LLC purchased a new position in CSX during the 2nd quarter worth $8,145,000. Wealthfront Advisers LLC purchased a new position in CSX during the 2nd quarter worth $7,609,000. B. Metzler seel. Sohn & Co. AG bought a new stake in CSX during the 2nd quarter valued at $6,598,000. Finally, First National Bank of Omaha bought a new stake in CSX during the 2nd quarter valued at $6,248,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

About CSX

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.