Goldman Sachs upgraded shares of CSX (NASDAQ:CSX) from a sell rating to a neutral rating in a research note issued to investors on Monday, Marketbeat.com reports. Goldman Sachs currently has $60.00 target price on the transportation company’s stock.
CSX has been the topic of several other reports. Morgan Stanley raised their target price on CSX from $47.00 to $48.00 and gave the company an underweight rating in a research report on Friday, April 6th. Zacks Investment Research upgraded CSX from a hold rating to a buy rating and set a $65.00 target price on the stock in a research report on Friday, January 19th. BidaskClub upgraded CSX from a sell rating to a hold rating in a research report on Saturday, February 17th. Deutsche Bank set a $70.00 target price on CSX and gave the company a buy rating in a research report on Sunday, March 4th. Finally, UBS set a $75.00 price target on CSX and gave the company a buy rating in a research report on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $64.19.
CSX opened at $63.52 on Monday. CSX has a 12 month low of $62.65 and a 12 month high of $63.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.68 and a current ratio of 1.87. The company has a market capitalization of $54.81 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20.
CSX declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other news, CEO James M. Foote purchased 5,000 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were bought at an average cost of $59.91 per share, for a total transaction of $299,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.03% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gables Capital Management Inc. acquired a new position in shares of CSX in the 1st quarter worth $669,000. Atlantic Trust Group LLC grew its holdings in shares of CSX by 11.1% in the 1st quarter. Atlantic Trust Group LLC now owns 32,407 shares of the transportation company’s stock worth $1,806,000 after acquiring an additional 3,236 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of CSX in the 1st quarter worth $5,577,000. Segall Bryant & Hamill LLC grew its holdings in shares of CSX by 16.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 8,004 shares of the transportation company’s stock worth $446,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Banco de Sabadell S.A grew its holdings in shares of CSX by 5.1% in the 1st quarter. Banco de Sabadell S.A now owns 37,201 shares of the transportation company’s stock worth $2,072,000 after acquiring an additional 1,812 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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