CSX (NASDAQ:CSX) Price Target Lowered to $86.00 at Credit Suisse Group

CSX (NASDAQ:CSX) had its price target decreased by analysts at Credit Suisse Group from $92.00 to $86.00 in a report released on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the transportation company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 19.89% from the company’s current price.

Other analysts have also issued reports about the stock. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $81.00 in a research note on Wednesday, July 10th. Raymond James set a $8.00 price target on shares of Superior Energy Services and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BMO Capital Markets began coverage on shares of Yelp in a research note on Wednesday, April 17th. They set an “outperform” rating on the stock. UBS Group reiterated a “buy” rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Friday, April 5th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of CSX in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $78.13.

NASDAQ:CSX traded down $0.09 on Wednesday, reaching $71.74. 1,123,349 shares of the company’s stock were exchanged, compared to its average volume of 4,969,348. 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 18.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The business has a fifty day simple moving average of $77.28. CSX has a 52-week low of $58.47 and a 52-week high of $80.73.

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

In other news, EVP Nathan D. Goldman sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.83% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in CSX. Norges Bank purchased a new position in CSX in the fourth quarter worth $463,481,000. CI Investments Inc. purchased a new position in shares of CSX in the 4th quarter worth about $370,449,000. FMR LLC raised its holdings in shares of CSX by 14.1% in 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 period. Impala Asset Management LLC purchased a new position in shares of CSX in the 1st quarter worth about $88,463,000. Finally, Magellan Asset Management Ltd purchased a new position in shares of CSX in the 1st quarter worth about $73,749,000. Institutional investors and hedge funds own 75.74% of the company’s stock.

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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