Barclays Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its price objective increased by Barclays from $40.00 to $41.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price indicates a potential upside of 15.07% from the stock’s current price.

Several other research analysts also recently issued reports on CSX. BMO Capital Markets cut their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Trading Down 2.3 %

NASDAQ:CSX opened at $35.63 on Wednesday. CSX has a 1 year low of $30.86 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a fifty day moving average price of $34.26 and a two-hundred day moving average price of $33.87. The stock has a market capitalization of $68.71 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.29 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. As a group, sell-side analysts anticipate that CSX will post 1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently modified their holdings of CSX. Interval Partners LP lifted its position in CSX by 849.0% during the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of CSX during the second quarter valued at approximately $116,430,000. M&G Plc acquired a new position in shares of CSX during the first quarter worth $126,089,000. Assenagon Asset Management S.A. boosted its stake in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares during the period. Finally, Wulff Hansen & CO. grew its holdings in CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.