CSX (NASDAQ:CSX) Stock Rating Reaffirmed by Benchmark

CSX (NASDAQ:CSX)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a report issued on Thursday, Benzinga reports. They presently have a $40.00 target price on the transportation company’s stock. Benchmark’s price objective points to a potential upside of 14.98% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Jefferies Financial Group dropped their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday. Susquehanna increased their price objective on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Finally, TD Cowen boosted their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.22.

CSX Trading Up 1.8 %

Shares of NASDAQ:CSX traded up $0.63 during trading on Thursday, reaching $34.79. 7,985,039 shares of the company traded hands, compared to its average volume of 11,858,336. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The business’s fifty day moving average is $36.98 and its 200-day moving average is $34.32. The firm has a market capitalization of $68.10 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the company posted $0.48 EPS. CSX’s quarterly revenue was down .8% compared to the same quarter last year. As a group, analysts forecast that CSX will post 1.97 EPS for the current year.

Hedge Funds Weigh In On CSX

Institutional investors and hedge funds have recently modified their holdings of the company. Bornite Capital Management LP bought a new stake in shares of CSX during the 1st quarter valued at about $14,980,000. Mirae Asset Global Investments Co. Ltd. grew its position in CSX by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after buying an additional 347,514 shares during the period. Blair William & Co. IL increased its holdings in CSX by 12.7% during the first quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after buying an additional 13,829 shares during the last quarter. Sei Investments Co. raised its position in CSX by 4.5% in the first quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after acquiring an additional 8,488 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of CSX by 16.8% during the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after acquiring an additional 10,276 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.