CSX (NASDAQ:CSX) Given New $86.00 Price Target at Citigroup

CSX (NASDAQ:CSX) had its target price raised by Citigroup from $79.00 to $86.00 in a research report issued on Thursday, April 4th, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup‘s price objective would indicate a potential upside of 8.63% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Wednesday, March 6th. Credit Suisse Group dropped their price target on shares of CSX from $86.00 to $79.00 and set an “outperform” rating on the stock in a research note on Monday, January 7th. Susquehanna Bancshares reiterated a “neutral” rating on shares of CSX in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 price target on shares of CSX in a research note on Monday, December 17th. Finally, ValuEngine upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $78.55.

Shares of NASDAQ CSX opened at $79.17 on Thursday. CSX has a fifty-two week low of $57.97 and a fifty-two week high of $80.51. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29.

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 Zacks’ consensus estimate of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that CSX will post 4.34 EPS for the current year.

CSX announced that its board has initiated a stock repurchase plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other CSX news, VP Angela C. Williams sold 9,560 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the sale, the vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.83% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in CSX by 4.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 149,717 shares of the transportation company’s stock valued at $11,202,000 after buying an additional 6,985 shares during the period. World Asset Management Inc raised its holdings in shares of CSX by 3.3% in the 1st quarter. World Asset Management Inc now owns 52,966 shares of the transportation company’s stock valued at $3,963,000 after purchasing an additional 1,682 shares in the last quarter. Enterprise Financial Services Corp raised its holdings in shares of CSX by 31.6% in the 1st quarter. Enterprise Financial Services Corp now owns 833 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of CSX by 4.8% in the 1st quarter. Great Valley Advisor Group Inc. now owns 8,939 shares of the transportation company’s stock valued at $668,000 after purchasing an additional 408 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of CSX in the 1st quarter valued at about $21,738,000. 77.36% of the stock is owned by institutional investors.

About CSX

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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