CSX (NASDAQ:CSX) Price Target Raised to $34.00

CSX (NASDAQ:CSX) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $31.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 1.41% from the company’s current price.

CSX has been the topic of several other research reports. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. Citigroup reduced their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their target price on shares of CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Bank of America increased their price target on shares of CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, June 13th. Finally, Susquehanna reissued a “neutral” rating and issued a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.32.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.48 during midday trading on Tuesday, reaching $33.53. 2,078,060 shares of the stock were exchanged, compared to its average volume of 13,269,697. The firm has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $31.06. CSX has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market cap of $62.98 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.94 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. As a group, analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX in the 4th quarter valued at about $31,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.