Wells Fargo & Company Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target reduced by investment analysts at Wells Fargo & Company from $34.00 to $31.00 in a research report issued on Thursday, March 27th,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.92% from the company’s current price.

Other research analysts also recently issued research reports about the company. Susquehanna lowered their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Citigroup reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

CSX Stock Down 4.3 %

CSX stock traded down $1.28 on Thursday, reaching $28.46. 8,875,231 shares of the company traded hands, compared to its average volume of 12,348,667. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market cap of $53.64 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. CSX has a one year low of $28.31 and a one year high of $37.10. The firm has a fifty day simple moving average of $31.54 and a 200-day simple moving average of $33.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts anticipate that CSX will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Jacobs & Co. CA grew its position in CSX by 1.4% in the 1st quarter. Jacobs & Co. CA now owns 408,275 shares of the transportation company’s stock valued at $12,015,000 after acquiring an additional 5,520 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of CSX in the fourth quarter worth about $308,000. 111 Capital purchased a new position in CSX in the 4th quarter worth about $630,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in CSX by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 945,319 shares of the transportation company’s stock valued at $30,505,000 after buying an additional 78,282 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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.