Citigroup Cuts CSX (NASDAQ:CSX) Price Target to $39.00

CSX (NASDAQ:CSX) had its target price cut by Citigroup from $40.00 to $39.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. BMO Capital Markets reduced their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Barclays reduced their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird reduced their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Stock Performance

Shares of CSX stock opened at $32.69 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a 50 day moving average price of $33.58 and a two-hundred day moving average price of $33.95. The company has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Analysts expect that CSX will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSX. Valley Wealth Managers Inc. lifted its holdings in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new position in CSX in the third quarter valued at about $31,000. Addison Advisors LLC lifted its holdings in CSX by 348.5% in the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares during the period. Fortitude Family Office LLC lifted its holdings in CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 336 shares during the period. Finally, Synergy Asset Management LLC bought a new position in CSX in the fourth quarter valued at about $41,000. 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.