CSX (NASDAQ:CSX) Given New $40.00 Price Target at BMO Capital Markets

CSX (NASDAQ:CSX) had its price target reduced by equities researchers at BMO Capital Markets from $41.00 to $40.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ price objective indicates a potential downside of 1.93% from the company’s current price.

Several other analysts also recently commented on the company. Bank of America lowered their price objective on CSX from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Susquehanna reiterated a “neutral” rating and issued a $39.00 target price on shares of CSX in a research note on Friday, January 23rd. Citigroup dropped their price target on shares of CSX from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Royal Bank Of Canada upped their price objective on shares of CSX from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, March 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $40.94.

CSX Stock Down 1.6%

Shares of NASDAQ CSX opened at $40.79 on Thursday. The firm has a market cap of $75.89 billion, a PE ratio of 26.44, a P/E/G ratio of 2.28 and a beta of 1.25. The company’s fifty day simple moving average is $40.15 and its 200 day simple moving average is $37.15. 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 has a 12-month low of $26.22 and a 12-month high of $43.35.

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

Insider Activity at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the transaction, the executive vice president owned 82,034 shares in the company, valued at approximately $3,170,614.10. This represents a 27.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer owned 165,613 shares in the company, valued at $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 188,123 shares of company stock worth $7,454,854. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of large investors have recently modified their holdings of the company. Union Savings Bank bought a new position in CSX in the 4th quarter worth about $138,000. CrossGen Wealth LLC bought a new stake in shares of CSX in the 4th quarter valued at about $54,000. BNB Wealth Management LLC bought a new stake in CSX during the 4th quarter valued at $1,125,000. Align Financial LLC purchased a new stake in CSX during the 4th quarter valued at $1,021,000. Finally, Captrust Financial Advisors lifted its holdings in CSX by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock worth $15,345,000 after buying an additional 18,025 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Company Profile

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.