CSX (NASDAQ:CSX) Price Target Cut to $39.00 by Analysts at Bank of America

CSX (NASDAQ:CSX) had its price objective decreased by research analysts at Bank of America from $40.00 to $39.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 14.17% from the stock’s current price.

A number of other analysts also recently issued reports on CSX. TD Cowen lifted their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. Susquehanna lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Benchmark raised their target price on shares of CSX from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.33.

CSX Stock Performance

Shares of CSX stock opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The company has a market capitalization of $66.87 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18. The company’s 50 day moving average price is $36.98 and its two-hundred day moving average price is $34.32. CSX has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts expect that CSX will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. West Tower Group LLC acquired a new stake in shares of CSX during the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc acquired a new stake in shares of CSX during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the first quarter worth $29,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of CSX during the fourth quarter worth $27,000. 73.57% of the stock is owned by institutional investors.

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.