CSX (NASDAQ:CSX) Price Target Cut to $46.00 by Analysts at Bank of America

CSX (NASDAQ:CSX) had its target price decreased by analysts at Bank of America from $48.00 to $46.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price suggests a potential upside of 16.00% from the stock’s current price.

Several other research analysts have also recently issued reports on CSX. Jefferies Financial Group increased their price objective on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wolfe Research boosted their price objective on CSX from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday. Rothschild & Co Redburn upped their price objective on CSX from $39.00 to $42.50 and gave the company a “buy” rating in a report on Friday, January 30th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $36.00 price objective (down from $37.00) on shares of CSX in a research report on Friday, January 23rd. Finally, Argus lifted their price target on shares of CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $40.44.

CSX Stock Performance

CSX stock traded down $0.69 during trading on Thursday, reaching $39.65. 4,115,304 shares of the company’s stock were exchanged, compared to its average volume of 13,954,146. CSX has a 1-year low of $26.22 and a 1-year high of $43.35. The firm has a market cap of $73.74 billion, a PE ratio of 25.74, a P/E/G ratio of 2.09 and a beta of 1.27. The company’s fifty day moving average price is $39.03 and its 200-day moving average price is $36.40. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. CSX’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. On average, research analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Insider Activity at CSX

In other CSX news, CEO Stephen F. Angel purchased 25,000 shares of CSX stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the acquisition, the chief executive officer owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Stephen Fortune sold 31,456 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the transaction, the executive vice president directly owned 82,034 shares in the company, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 188,123 shares of company stock worth $7,454,854. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On CSX

Hedge funds have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter worth about $25,000. FNY Investment Advisers LLC grew its position in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new position in shares of CSX during the second quarter worth approximately $28,000. Pinnacle Bancorp Inc. increased its stake in shares of CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after purchasing an additional 729 shares during the period. Finally, CrossGen Wealth LLC acquired a new stake in CSX during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.