CSX (NASDAQ:CSX) Price Target Cut to $30.00 by Analysts at Bank of America

CSX (NASDAQ:CSX) had its price target dropped by research analysts at Bank of America from $33.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price would indicate a potential upside of 9.69% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets reduced their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Royal Bank of Canada decreased their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Robert W. Baird dropped their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Jefferies Financial Group lowered their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

CSX Trading Down 2.0 %

NASDAQ CSX opened at $27.35 on Thursday. The business’s fifty day moving average is $30.29 and its 200-day moving average is $32.60. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.92 and a beta of 1.23. CSX has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities research analysts predict that CSX will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the fourth quarter worth about $31,000. Finally, Sierra Ocean LLC purchased a new position in CSX during the 4th quarter valued at about $33,000. Institutional investors own 73.57% of the company’s stock.

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.