CSX (NASDAQ:CSX) Raised to “Buy” at Jefferies Financial Group

CSX (NASDAQ:CSX) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a $37.00 price target on the transportation company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 14.91% from the company’s previous close.

Several other brokerages have also weighed in on CSX. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Barclays increased their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. TD Cowen decreased their target price 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, Susquehanna dropped their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

CSX Stock Up 0.0 %

Shares of CSX opened at $32.20 on Friday. CSX has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock has a fifty day simple moving average of $34.12 and a two-hundred day simple moving average of $33.99. The company has a market capitalization of $62.10 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm earned $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that CSX will post 1.84 EPS for the current year.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. InvesTrust purchased a new stake in shares of CSX during the 4th quarter worth $579,000. Fulton Bank N.A. raised its stake in CSX by 1.2% in the fourth quarter. Fulton Bank N.A. now owns 30,505 shares of the transportation company’s stock valued at $984,000 after buying an additional 349 shares in the last quarter. Diversified Trust Co lifted its holdings in CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of CSX by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 2,342,834 shares of the transportation company’s stock worth $75,603,000 after acquiring an additional 570,683 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of CSX by 99.1% in the 4th quarter. Versant Capital Management Inc now owns 3,028 shares of the transportation company’s stock valued at $98,000 after acquiring an additional 1,507 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Company Profile

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.