CSX (NASDAQ:CSX) Price Target Lowered to $33.00 at Royal Bank of Canada

CSX (NASDAQ:CSX) had its price objective reduced by equities researchers at Royal Bank of Canada from $34.00 to $33.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 0.96% from the stock’s current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Evercore ISI reduced their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup cut their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Stock Down 2.9 %

Shares of CSX stock traded down $0.99 on Friday, hitting $32.69. The company had a trading volume of 14,287,852 shares, compared to its average volume of 14,738,221. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $63.03 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.06 and a beta of 1.22. The stock has a 50 day moving average of $33.58 and a 200-day moving average of $33.95. CSX has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. As a group, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Large investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in shares of CSX by 69.3% in the second quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock worth $2,495,000 after buying an additional 30,531 shares during the period. Squarepoint Ops LLC increased its holdings in shares of CSX by 300.9% in the second quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock worth $18,007,000 after buying an additional 404,037 shares during the period. AlTi Global Inc. increased its holdings in shares of CSX by 5.2% in the second quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock worth $230,000 after buying an additional 342 shares during the period. Daymark Wealth Partners LLC increased its holdings in shares of CSX by 9.6% in the second quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock worth $1,092,000 after buying an additional 2,860 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of CSX in the second quarter worth about $221,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.