JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $40.00 to $41.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.75% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Stephens boosted their price objective on CSX from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. BMO Capital Markets cut CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price objective for the company. in a research note on Monday, August 18th. TD Cowen boosted their price objective on CSX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Robert W. Baird set a $40.00 price target on CSX and gave the stock an “outperform” rating in a research note on Monday. Finally, Barclays restated an “overweight” rating on shares of CSX in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and a consensus target price of $39.09.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.73 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.45. CSX has a twelve month low of $26.22 and a twelve month high of $37.25. The stock has a 50 day moving average of $34.37 and a two-hundred day moving average of $32.55. The stock has a market cap of $66.53 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.86 and a beta of 1.29.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 24.95% and a net margin of 20.55%.The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts forecast that CSX will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other CSX news, CEO Stephen F. Angel acquired 55,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average price of $36.87 per share, with a total value of $2,027,850.00. Following the completion of the acquisition, the chief executive officer directly owned 58,234 shares of the company’s stock, valued at approximately $2,147,087.58. The trade was a 1,700.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock worth $835,336,000 after acquiring an additional 5,033,743 shares during the period. Ameriprise Financial Inc. grew its holdings in CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock valued at $690,359,000 after purchasing an additional 2,599,518 shares during the last quarter. Northern Trust Corp grew its holdings in CSX by 4.6% in the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company’s stock valued at $649,442,000 after purchasing an additional 969,567 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CSX by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company’s stock valued at $551,540,000 after purchasing an additional 1,856,322 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CSX by 19.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company’s stock valued at $450,635,000 after purchasing an additional 2,454,895 shares during the last quarter. Institutional investors and hedge funds 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.