Wells Fargo & Company Lowers CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its price target lowered by equities researchers at Wells Fargo & Company from $36.00 to $34.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.64% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on CSX. Loop Capital cut their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada lowered their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets cut 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. Robert W. Baird cut 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, Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.17.

CSX Trading Down 2.6 %

NASDAQ CSX traded down $0.87 during trading hours on Friday, hitting $32.81. 6,756,899 shares of the company’s stock were exchanged, compared to its average volume of 14,114,631. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a 1-year low of $31.43 and a 1-year high of $40.12. The stock has a 50-day simple moving average of $33.62 and a 200 day simple moving average of $33.95. The firm has a market cap of $63.26 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued 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%. On average, equities analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

A number of large investors have recently modified their holdings of CSX. Avior Wealth Management LLC boosted its holdings in shares of CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 293 shares in the last quarter. Lake Street Advisors Group LLC raised its position in CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after acquiring an additional 306 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock valued at $1,222,000 after buying an additional 309 shares during the last quarter. Finally, Associated Banc Corp grew its holdings in CSX by 0.6% in the third quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after purchasing an additional 310 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.