CSX (NASDAQ:CSX) Price Target Cut to $37.00 by Analysts at JPMorgan Chase & Co.

CSX (NASDAQ:CSX) had its price target cut by stock analysts at JPMorgan Chase & Co. from $38.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.13% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. TD Cowen decreased their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Citigroup dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.83.

CSX Trading Down 2.9 %

CSX stock traded down $0.96 on Friday, reaching $32.71. The company’s stock had a trading volume of 11,305,965 shares, compared to its average volume of 14,528,602. 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 business has a fifty day simple moving average of $33.58 and a two-hundred day simple moving average of $33.95. The firm has a market cap of $63.07 billion, a PE ratio of 17.57, a PEG ratio of 2.06 and a beta of 1.22. CSX has a 12-month low of $31.43 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, research analysts forecast that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

Large investors have recently modified their holdings of the company. DAVENPORT & Co LLC raised its position in CSX by 4.9% in the fourth quarter. DAVENPORT & Co LLC now owns 172,183 shares of the transportation company’s stock worth $5,556,000 after acquiring an additional 8,098 shares during the period. Tritonpoint Wealth LLC raised its position in shares of CSX by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 20,935 shares of the transportation company’s stock valued at $676,000 after buying an additional 391 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in CSX by 4.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 51,667 shares of the transportation company’s stock worth $1,667,000 after purchasing an additional 2,361 shares in the last quarter. Costello Asset Management INC boosted its stake in CSX by 5.9% during the fourth quarter. Costello Asset Management INC now owns 120,669 shares of the transportation company’s stock valued at $3,894,000 after buying an additional 6,710 shares during the last quarter. Finally, KG&L Capital Management LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $729,000. 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.