Citigroup Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price objective boosted by equities research analysts at Citigroup from $42.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 21.72% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Susquehanna lowered their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Evercore ISI reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stephens reduced their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Barclays reduced their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.72.

CSX Stock Performance

NASDAQ CSX traded down $0.37 on Tuesday, hitting $36.15. 4,478,311 shares of the stock were exchanged, compared to its average volume of 11,706,998. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business’s fifty day moving average is $34.19 and its 200 day moving average is $33.84. CSX has a 52 week low of $30.30 and a 52 week high of $40.12. The company has a market capitalization of $69.71 billion, a PE ratio of 19.42, a P/E/G ratio of 2.28 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Research analysts anticipate that CSX will post 1.84 EPS for the current fiscal year.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. Itau Unibanco Holding S.A. purchased a new stake in CSX during the second quarter valued at about $26,000. Valley Wealth Managers Inc. grew its position in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. MFA Wealth Advisors LLC acquired a new position in CSX during the 2nd quarter worth approximately $27,000. Morton Brown Family Wealth LLC bought a new position in CSX during the 3rd quarter worth $31,000. Finally, Fairscale Capital LLC acquired a new stake in CSX in the second quarter valued at about $32,000. 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.