CSX (NASDAQ:CSX) Price Target Raised to $93.00 at Credit Suisse Group

CSX (NASDAQ:CSX) had its price target increased by Credit Suisse Group from $88.00 to $93.00 in a research note issued on Wednesday, April 17th, The Fly reports. The firm presently has an “outperform” rating on the transportation company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 18.97% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Citigroup raised their price target on CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Argus reiterated a “buy” rating and issued a $71.00 price objective on shares of CSX in a research report on Friday, January 18th. Loop Capital lifted their price objective on CSX to $87.00 and gave the stock a “buy” rating in a research report on Thursday, January 17th. Stifel Nicolaus cut CSX from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a research note on Wednesday, March 6th. Finally, Morgan Stanley raised their target price on CSX from $55.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $78.55.

Shares of NASDAQ:CSX traded down $0.03 on Wednesday, hitting $78.17. The company’s stock had a trading volume of 2,841,000 shares, compared to its average volume of 4,768,562. CSX has a 1 year low of $58.47 and a 1 year high of $80.73. The stock has a market cap of $63.33 billion, a P/E ratio of 20.36, a PEG ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3 billion. CSX had a return on equity of 26.13% and a net margin of 27.84%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. On average, equities research analysts expect that CSX will post 4.34 EPS for the current fiscal year.

CSX declared that its board has authorized a stock buyback program on Wednesday, January 16th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to buy up to 9.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, VP Angela C. Williams sold 9,560 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the transaction, the vice president now owns 14,607 shares in the company, valued at $1,155,997.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.83% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Cigna Investments Inc. New grew its holdings in shares of CSX by 1.1% in the fourth quarter. Cigna Investments Inc. New now owns 26,360 shares of the transportation company’s stock worth $1,637,000 after acquiring an additional 276 shares during the period. Suntrust Banks Inc. grew its holdings in shares of CSX by 15.2% in the fourth quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock worth $21,259,000 after acquiring an additional 45,146 shares during the period. Shelton Capital Management grew its holdings in shares of CSX by 33.2% in the fourth quarter. Shelton Capital Management now owns 111,623 shares of the transportation company’s stock worth $6,935,000 after acquiring an additional 27,800 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of CSX by 5.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,815 shares of the transportation company’s stock worth $22,355,000 after acquiring an additional 18,062 shares during the period. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of CSX in the fourth quarter worth $221,000. 77.61% 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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