CSX (NASDAQ:CSX) Price Target Cut to $75.00

CSX (NASDAQ:CSX) had its price target decreased by investment analysts at Royal Bank of Canada to $75.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 4.41% from the company’s current price.

A number of other research firms have also issued reports on CSX. Stifel Nicolaus set a $80.00 price target on shares of CSX and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Stephens reaffirmed an “overweight” rating and set a $120.00 target price on shares of TAKE-TWO INTERACTIVE SOFTWARE in a report on Wednesday. SNS Securities lowered shares of CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $81.00 in a report on Wednesday, July 10th. Finally, Citigroup set a $20.00 target price on shares of Compania de Minas Buenaventura SAA and gave the company a “buy” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $78.13.

CSX opened at $71.83 on Wednesday. CSX has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a quick ratio of 1.68, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.23 and a beta of 1.22. The stock’s 50 day simple moving average is $77.28.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX will post 4.19 EPS for the current fiscal year.

In related news, EVP Nathan D. Goldman sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares of the company’s stock, valued at approximately $6,335,911.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.83% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in CSX by 14.1% during the 4th quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock worth $1,438,997,000 after purchasing an additional 2,867,186 shares during the last quarter. Janus Henderson Group PLC boosted its stake in CSX by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 12,929,434 shares of the transportation company’s stock worth $967,382,000 after purchasing an additional 60,234 shares during the last quarter. Egerton Capital UK LLP boosted its position in shares of CSX by 2.5% during the 1st quarter. Egerton Capital UK LLP now owns 12,140,980 shares of the transportation company’s stock valued at $908,388,000 after acquiring an additional 290,774 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CSX by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after acquiring an additional 646,745 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of CSX during the 4th quarter valued at about $463,481,000. 75.74% 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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