CSX (CSX) Price Target Raised to $81.00

CSX (NASDAQ:CSX) had its price objective hoisted by TD Securities from $79.00 to $81.00 in a research note released on Wednesday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on CSX. Morgan Stanley lifted their price objective on CSX from $55.00 to $57.00 and gave the stock an underweight rating in a report on Wednesday. Raymond James lifted their price objective on CSX from $81.00 to $84.00 and gave the stock an outperform rating in a report on Wednesday. BMO Capital Markets lifted their price objective on CSX from $76.00 to $78.00 and gave the stock a market perform rating in a report on Wednesday. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on CSX from $88.00 to $93.00 and gave the stock an outperform rating in a report on Wednesday. Finally, UBS Group cut CSX from a buy rating to a neutral rating and lifted their price objective for the stock from $75.00 to $80.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $78.23.

CSX opened at $78.97 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $64.18 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29. CSX has a 12 month low of $57.97 and a 12 month high of $80.51.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. As a group, research analysts forecast that CSX will post 4.23 EPS for the current fiscal year.

CSX declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 16th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to purchase up to 9.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the transaction, the director now directly owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BLB&B Advisors LLC raised its holdings in shares of CSX by 10.0% in the first quarter. BLB&B Advisors LLC now owns 73,948 shares of the transportation company’s stock worth $5,533,000 after acquiring an additional 6,741 shares during the last quarter. Renaissance Investment Group LLC acquired a new position in shares of CSX in the first quarter worth $213,000. Smith & Howard Wealth Management LLC acquired a new position in shares of CSX in the first quarter worth $224,000. Steigerwald Gordon & Koch Inc. raised its holdings in shares of CSX by 8.6% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 7,252 shares of the transportation company’s stock worth $543,000 after acquiring an additional 573 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in shares of CSX by 11.2% in the first quarter. IFM Investors Pty Ltd now owns 52,999 shares of the transportation company’s stock worth $3,965,000 after acquiring an additional 5,325 shares during the last quarter. 77.36% of the stock is owned by institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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