CSX (NASDAQ:CSX) Stock Price Expected to Rise, Susquehanna Analyst Says

CSX (NASDAQ:CSX) had its price objective raised by research analysts at Susquehanna from $55.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna‘s price target suggests a potential upside of 16.42% from the company’s current price.

Other analysts have also issued research reports about the stock. TD Cowen restated a “buy” rating and set a $55.00 price target (up from $54.00) on shares of CSX in a research note on Thursday. Bank of America raised their price objective on shares of CSX from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Evercore set a $53.00 price objective on shares of CSX in a report on Friday. Argus set a $56.00 price objective on shares of CSX in a report on Friday, July 31st. Finally, Raymond James Financial set a $55.00 target price on shares of CSX in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.20.

CSX Stock Up 0.4%

Shares of CSX traded up $0.23 during trading hours on Tuesday, hitting $51.54. The stock had a trading volume of 714,455 shares, compared to its average volume of 12,380,921. CSX has a 1-year low of $33.63 and a 1-year high of $53.60. The firm has a market capitalization of $95.00 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.21. The firm has a 50 day simple moving average of $48.72 and a 200-day simple moving average of $45.10. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. CSX’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts predict that CSX will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of CSX during the second quarter valued at $7,655,277,000. XXEC Inc. purchased a new position in CSX in the 2nd quarter worth about $765,595,000. Bank of America Corp DE bought a new position in CSX during the 2nd quarter valued at about $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX during the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc purchased a new stake in shares of CSX during the 2nd quarter valued at about $747,001,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.