Bank of America Lowers CSX (NASDAQ:CSX) Price Target to $39.00

CSX (NASDAQ:CSX) had its price target reduced by stock analysts at Bank of America from $40.00 to $39.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would suggest a potential upside of 13.57% from the stock’s current price.

A number of other research analysts also recently commented on the company. Raymond James boosted their price target on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna boosted their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Jefferies Financial Group started coverage on CSX in a research note on Monday, April 8th. They set a “hold” rating and a $40.00 target price for the company. Finally, BMO Capital Markets boosted their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

CSX Stock Down 0.1 %

CSX stock opened at $34.34 on Thursday. The company has a market cap of $67.22 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The business has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $34.35. CSX has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last posted 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. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Sell-side analysts anticipate that CSX will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently modified their holdings of CSX. West Tower Group LLC bought a new position in shares of CSX during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of CSX during the 4th quarter worth approximately $27,000. Life Planning Partners Inc bought a new position in shares of CSX during the 4th quarter worth approximately $27,000. Fortis Capital Advisors LLC bought a new position in shares of CSX during the 4th quarter worth approximately $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX during the 1st quarter worth approximately $29,000. 73.57% of the stock is currently owned by 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.