CSX Corporation (NASDAQ:CSX) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, September 12th.
A number of other brokerages also recently commented on CSX. TD Securities cut their target price on shares of CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a research note on Friday, June 9th. Stifel Nicolaus reissued a “hold” rating and issued a $55.00 target price (down previously from $57.00) on shares of CSX Corporation in a research note on Thursday, September 7th. Zacks Investment Research raised shares of CSX Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, July 11th. Finally, Credit Suisse Group cut their target price on shares of CSX Corporation from $61.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, September 7th. Twelve investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.13.
CSX Corporation (CSX) opened at 53.10 on Tuesday. CSX Corporation has a 12-month low of $29.21 and a 12-month high of $55.48. The company has a 50-day moving average price of $50.16 and a 200-day moving average price of $50.73. The firm has a market capitalization of $48.50 billion, a PE ratio of 27.77 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last issued its earnings results on Tuesday, July 18th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts predict that CSX Corporation will post $2.22 earnings per share for the current year.
CSX Corporation declared that its board has initiated a share repurchase plan on Tuesday, July 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the transportation company to purchase up to 1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction on Friday, July 21st. The stock was purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the purchase, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.79% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CSX. Acadian Asset Management LLC boosted its stake in CSX Corporation by 115.4% during the 1st quarter. Acadian Asset Management LLC now owns 9,819 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 5,260 shares during the period. Greenleaf Trust boosted its stake in CSX Corporation by 4.0% during the 1st quarter. Greenleaf Trust now owns 18,458 shares of the transportation company’s stock valued at $859,000 after purchasing an additional 708 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of CSX Corporation by 6.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 613,900 shares of the transportation company’s stock worth $28,577,000 after acquiring an additional 37,000 shares during the period. Cadence Bank NA acquired a new stake in shares of CSX Corporation in the 1st quarter worth approximately $200,000. Finally, Jennison Associates LLC lifted its stake in shares of CSX Corporation by 16,787.9% in the 1st quarter. Jennison Associates LLC now owns 2,584,353 shares of the transportation company’s stock worth $120,302,000 after acquiring an additional 2,569,050 shares during the period. 69.82% of the stock is owned by hedge funds and other institutional investors.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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