CSX (CSX) Given a $70.00 Price Target at Deutsche Bank
CSX has been the subject of a number of other research reports. Cowen restated an outperform rating and set a $62.00 target price (up previously from $61.00) on shares of CSX in a report on Friday. Scotiabank set a $63.00 price objective on CSX and gave the company a hold rating in a report on Friday. Morgan Stanley decreased their price objective on CSX from $51.00 to $47.00 and set an underweight rating for the company in a report on Friday. Credit Suisse Group decreased their price objective on CSX from $67.00 to $65.00 and set an outperform rating for the company in a report on Friday. Finally, UBS Group set a $72.00 price objective on CSX and gave the company a buy rating in a report on Friday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. CSX currently has an average rating of Buy and a consensus target price of $60.71.
CSX (CSX) traded down $0.59 during trading hours on Friday, hitting $54.45. The company had a trading volume of 1,738,993 shares, compared to its average volume of 7,361,631. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $48,833.48, a P/E ratio of 8.92, a P/E/G ratio of 1.33 and a beta of 1.27. CSX has a 12 month low of $45.41 and a 12 month high of $60.04.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. CSX’s dividend payout ratio (DPR) is currently 14.50%.
CSX declared that its Board of Directors has authorized a share buyback plan on Monday, February 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors have recently modified their holdings of CSX. Nationwide Fund Advisors lifted its stake in CSX by 2.3% in the 3rd quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock valued at $20,451,000 after buying an additional 8,365 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in CSX by 12.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock worth $30,650,000 after purchasing an additional 60,300 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in CSX by 1.9% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 77,038 shares of the transportation company’s stock worth $4,180,000 after purchasing an additional 1,420 shares in the last quarter. Cavalier Investments LLC purchased a new position in CSX in the 3rd quarter worth approximately $1,400,000. Finally, Russell Investments Group Ltd. lifted its stake in CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after purchasing an additional 149,208 shares in the last quarter. 74.77% 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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