CSX (NASDAQ:CSX) Price Target Lowered to $39.00 at BMO Capital Markets

CSX (NASDAQ:CSX) had its target price lowered by research analysts at BMO Capital Markets from $40.00 to $39.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. BMO Capital Markets’ price target points to a potential upside of 9.95% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein raised their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Barclays decreased their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada dropped their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday. Citigroup started coverage on CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.94.

CSX Stock Performance

Shares of NASDAQ CSX opened at $35.47 on Thursday. The firm has a market capitalization of $69.34 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.90 and a beta of 1.19. CSX has a one year low of $29.03 and a one year high of $40.12. The business has a fifty day simple moving average of $34.05 and a 200 day simple moving average of $33.99. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS. Sell-side analysts expect that CSX will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Interval Partners LP lifted its stake in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC acquired a new stake in CSX in the second quarter worth about $116,430,000. M&G Plc bought a new stake in CSX during the 1st quarter worth about $126,089,000. Wulff Hansen & CO. lifted its position in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. Institutional investors and hedge funds 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.