CSX (NASDAQ:CSX) Price Target Cut to $38.00 by Analysts at Jefferies Financial Group

CSX (NASDAQ:CSX) had its price objective cut by research analysts at Jefferies Financial Group from $40.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 9.32% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus raised their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Bank of America reduced their target price on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 target price on shares of CSX in a report on Thursday, January 25th. Finally, Raymond James increased their target price on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.22.

CSX Price Performance

NASDAQ CSX traded up $0.60 on Thursday, reaching $34.76. 7,715,592 shares of the stock traded hands, compared to its average volume of 11,858,336. The firm’s fifty day simple moving average is $36.98 and its 200 day simple moving average is $34.32. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market cap of $68.05 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.01 and a beta of 1.18. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, research analysts predict that CSX will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

A number of institutional investors have recently added to or reduced their stakes in CSX. Diversified Trust Co lifted its stake in CSX by 120.7% during the first quarter. Diversified Trust Co now owns 44,778 shares of the transportation company’s stock worth $1,660,000 after purchasing an additional 24,490 shares during the period. Aviance Capital Partners LLC lifted its stake in CSX by 340.0% during the first quarter. Aviance Capital Partners LLC now owns 29,636 shares of the transportation company’s stock worth $1,099,000 after purchasing an additional 22,901 shares during the period. D.B. Root & Company LLC lifted its stake in CSX by 3.3% during the first quarter. D.B. Root & Company LLC now owns 40,838 shares of the transportation company’s stock worth $1,514,000 after purchasing an additional 1,310 shares during the period. Cornerstone Wealth Group LLC bought a new position in CSX during the first quarter worth about $255,000. Finally, New Mexico Educational Retirement Board lifted its stake in CSX by 21.9% during the first quarter. New Mexico Educational Retirement Board now owns 129,018 shares of the transportation company’s stock worth $4,832,000 after purchasing an additional 23,200 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

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.