CSX (NASDAQ:CSX) Lowered to “Hold” at Loop Capital

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Loop Capital lowered shares of CSX (NASDAQ:CSX) from a buy rating to a hold rating in a research note published on Wednesday morning, 24/7 WallStreet reports. Loop Capital currently has $81.00 price objective on the transportation company’s stock, down from their previous price objective of $85.00.

CSX has been the subject of a number of other research reports. Zacks Investment Research raised Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 target price for the company in a research report on Monday, July 8th. UBS Group reissued a buy rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Friday, April 5th. Stifel Nicolaus set a $80.00 target price on CSX and gave the stock a hold rating in a research report on Wednesday, April 17th. Deutsche Bank raised CYBERAGENT INC/ADR from a hold rating to a buy rating in a research report on Wednesday, June 12th. Finally, BMO Capital Markets began coverage on Yelp in a research report on Wednesday, April 17th. They issued an outperform rating for the company. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $79.18.

Shares of CSX stock opened at $78.58 on Wednesday. The firm’s fifty day moving average price is $77.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.81 and a quick ratio of 1.68. The stock has a market capitalization of $63.58 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.38 and a beta of 1.22. CSX has a 12 month low of $58.47 and a 12 month high of $80.73.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3 billion. CSX had a return on equity of 26.13% and a net margin of 27.84%. CSX’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, equities analysts expect that CSX will post 4.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.24 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.96 annualized dividend and a yield of 1.22%. CSX’s payout ratio is 25.00%.

In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,697 shares in the company, valued at approximately $6,335,911.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela C. Williams sold 9,560 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the transaction, the vice president now owns 14,607 shares of the company’s stock, valued at $1,155,997.98. The disclosure for this sale can be found here. Corporate insiders own 4.83% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC raised its holdings in shares of CSX by 10.7% during the 1st quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after acquiring an additional 130 shares in the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of CSX by 1.1% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after acquiring an additional 132 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of CSX by 1.7% during the 4th quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock worth $551,000 after acquiring an additional 149 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of CSX by 3.6% during the 1st quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after acquiring an additional 150 shares in the last quarter. Finally, Adirondack Trust Co. raised its holdings in shares of CSX by 2.2% during the 1st quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after acquiring an additional 150 shares in the last quarter. 75.68% of the stock is currently owned by institutional investors and hedge funds.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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