CSX (NASDAQ:CSX) Price Target Raised to $42.00 at JPMorgan Chase & Co.

CSX (NASDAQ:CSX) had its target price lifted by JPMorgan Chase & Co. from $39.00 to $42.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other research firms have also recently issued reports on CSX. Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a hold rating on the stock in a research report on Thursday, April 18th. Susquehanna lowered their price target on CSX from $44.00 to $40.00 and set a positive rating on the stock in a report on Tuesday, June 25th. Sanford C. Bernstein upped their price target on CSX from $35.00 to $36.00 and gave the stock a market perform rating in a report on Monday, July 8th. Benchmark restated a buy rating and issued a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Finally, Wells Fargo & Company began coverage on CSX in a report on Friday, June 7th. They issued an equal weight rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CSX has an average rating of Moderate Buy and an average price target of $38.80.

CSX Price Performance

CSX stock remained flat at $34.25 during trading on Tuesday. The company had a trading volume of 3,137,510 shares, compared to its average volume of 11,789,336. The stock has a market cap of $66.96 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.89 and a beta of 1.20. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a fifty day simple moving average of $33.58 and a 200-day simple moving average of $35.02. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts anticipate that CSX will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Waycross Partners LLC lifted its stake in shares of CSX by 2.9% during the 2nd quarter. Waycross Partners LLC now owns 309,952 shares of the transportation company’s stock worth $10,368,000 after purchasing an additional 8,622 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of CSX by 38.0% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 25,998 shares of the transportation company’s stock worth $870,000 after buying an additional 7,158 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of CSX by 90.7% during the 2nd quarter. WINTON GROUP Ltd now owns 21,016 shares of the transportation company’s stock worth $703,000 after buying an additional 9,995 shares during the last quarter. Pinion Investment Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth $238,000. Finally, Wilkins Investment Counsel Inc. increased its holdings in shares of CSX by 54.6% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 23,500 shares of the transportation company’s stock worth $786,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors 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.