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

CSX (NASDAQ:CSX) had its price target upped by equities research analysts at Barclays from $40.00 to $41.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price indicates a potential upside of 13.35% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. 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. Royal Bank of Canada decreased their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets lowered their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Wells Fargo & Company reduced their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Trading Up 0.1 %

Shares of NASDAQ CSX traded up $0.04 during midday trading on Wednesday, reaching $36.17. 2,061,530 shares of the stock were exchanged, compared to its average volume of 11,694,715. CSX has a twelve month low of $30.86 and a twelve month high of $40.12. The stock has a market capitalization of $69.75 billion, a P/E ratio of 19.48, a PEG ratio of 2.32 and a beta of 1.19. The company has a 50 day simple moving average of $34.22 and a 200 day simple moving average of $33.85. 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 (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that CSX will post 1.84 earnings per share for the current year.

Hedge Funds Weigh In On CSX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise raised its position in CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after buying an additional 10,301 shares during the last quarter. Ascent Group LLC increased its position in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in CSX by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Principal Financial Group Inc. raised its stake in shares of CSX by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock worth $81,095,000 after buying an additional 77,488 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of CSX by 4.2% in the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after buying an additional 23,938 shares during the period. 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.