Citigroup Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target decreased by stock analysts at Citigroup from $54.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 12.97% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Stifel Nicolaus set a $54.00 price target on shares of CSX in a research note on Thursday, July 23rd. TD Cowen raised their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada decreased their price objective on shares of CSX from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

CSX Stock Down 1.2%

Shares of NASDAQ CSX traded down $0.58 during mid-day trading on Wednesday, reaching $46.91. The company had a trading volume of 4,049,186 shares, compared to its average volume of 12,525,693. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX has a twelve month low of $33.63 and a twelve month high of $53.60. The stock’s 50 day moving average is $49.21 and its 200-day moving average is $46.88. The stock has a market capitalization of $86.91 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21.

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

Insider Activity at CSX

In other CSX news, SVP Michael Burns sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Angela Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This represents 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Archer Investment Corp acquired a new stake in shares of CSX during the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new position in CSX during the second quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new position in CSX during the second quarter worth about $29,000. Manning & Napier Advisors LLC acquired a new stake in CSX during the second quarter valued at approximately $30,000. Finally, Arlington Trust Co LLC grew its stake in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Wall Street analysts collectively rate CSX “Moderate Buy,” indicating that analysts see potential for appreciation despite recent weakness. CSX Corporation Stock Rated Moderate Buy by Wall Street Analysts
• Positive Sentiment: The reported consensus price target of approximately $51.09 remains above the stock’s recent trading level, implying analysts expect additional upside. However, the shares still declined as the target was reported, suggesting investors may be focused on execution and valuation rather than target-price potential. CSX Stock Falls as Consensus Target Reaches $51.09
• Neutral Sentiment: CSX traded modestly higher in after-hours and pre-market indications, pointing to limited immediate follow-through from either buyers or sellers. CSX Pre-Market Trading
• Neutral Sentiment: CSX announced the return of its annual Santa Train to Appalachia on November 21. The community event supports the company’s public image but is unlikely to materially affect earnings or the stock. CSX Santa Train Returning to Eastern Kentucky
• Negative Sentiment: A Seeking Alpha analysis titled “Still Not Willing To Climb Aboard” reflects continued investor caution, potentially weighing on the stock alongside its elevated valuation of roughly 27 times earnings. CSX Corporation Still Not Willing to Climb Aboard

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.