CSX (CSX) PT Raised to $67.00 at Royal Bank of Canada
CSX (NASDAQ:CSX) had its price target boosted by Royal Bank of Canada from $59.00 to $67.00 in a research report released on Tuesday morning, The Fly reports. The brokerage currently has an outperform rating on the transportation company’s stock. The analysts noted that the move was a valuation call.
Several other equities research analysts have also issued reports on the stock. Robert W. Baird reissued a buy rating and issued a $59.00 price objective on shares of CSX in a research report on Tuesday. TD Securities lowered shares of CSX from a buy rating to a hold rating and lowered their price target for the company from $63.00 to $54.00 in a report on Monday, December 18th. UBS Group set a $68.00 price target on shares of CSX and gave the company a buy rating in a report on Sunday, December 17th. Scotiabank set a $55.00 price target on shares of CSX and gave the company a buy rating in a report on Friday, December 15th. Finally, Barclays reaffirmed a buy rating and set a $68.00 price target on shares of CSX in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $57.28.
CSX (NASDAQ CSX) traded up $0.56 during trading on Tuesday, hitting $59.25. 4,723,403 shares of the stock traded hands, compared to its average volume of 9,300,000. CSX has a 52 week low of $36.21 and a 52 week high of $59.76. The firm has a market capitalization of $52,950.00, a price-to-earnings ratio of 30.54, a P/E/G ratio of 1.59 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CSX had a net margin of 15.45% and a return on equity of 17.28%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. sell-side analysts forecast that CSX will post 2.21 earnings per share for the current fiscal year.
CSX announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Gary Keith Anderson acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were purchased at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. Company insiders own 4.79% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. First Command Financial Services Inc. increased its stake in CSX by 130.0% during the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,200 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of CSX in the 3rd quarter worth approximately $196,000. Laurel Wealth Advisors Inc. acquired a new position in shares of CSX in the 2nd quarter worth approximately $226,000. Americafirst Capital Management LLC acquired a new position in shares of CSX in the 3rd quarter worth approximately $308,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of CSX by 32.0% in the third quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after buying an additional 1,423 shares during the period. 70.15% of the stock is currently owned by hedge funds and other institutional investors.
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CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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