Barclays Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its target price increased by equities researchers at Barclays from $40.00 to $41.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price points to a potential upside of 15.07% from the company’s current price.

A number of other research firms also recently commented on CSX. Citigroup increased their target price on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets reduced their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Stephens lowered their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Down 2.3 %

CSX stock opened at $35.63 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $33.87. The company has a market capitalization of $68.71 billion, a P/E ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19. CSX has a twelve month low of $30.86 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, equities research analysts predict that CSX will post 1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its stake in shares of CSX by 2.5% in the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares during the period. Western Wealth Management LLC raised its holdings in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after purchasing an additional 295 shares in the last quarter. TriaGen Wealth Management LLC lifted its position in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares during the period. Lake Street Advisors Group LLC boosted its stake in CSX by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after purchasing an additional 309 shares during the period. Institutional investors own 73.57% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.