CSX (NASDAQ:CSX – Get Rating) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. They currently have a $35.00 target price on the transportation company’s stock, down from their prior target price of $45.00. Citigroup’s target price would suggest a potential upside of 8.29% from the company’s previous close.
Several other equities analysts have also recently issued reports on CSX. Susquehanna boosted their price target on shares of CSX from $44.00 to $45.00 and gave the company a “positive” rating in a research report on Thursday, April 21st. Morgan Stanley decreased their target price on CSX from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, January 21st. TD Securities lowered CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $41.00 to $38.00 in a research report on Monday, April 18th. Wolfe Research decreased their price objective on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 21st. Finally, Cowen upped their target price on shares of CSX from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.45.
CSX opened at $32.32 on Thursday. CSX has a one year low of $29.49 and a one year high of $38.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.46 and a quick ratio of 1.32. The business has a 50 day simple moving average of $35.07 and a two-hundred day simple moving average of $35.38. The firm has a market capitalization of $70.27 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.80 and a beta of 1.21.
Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in CSX by 294.9% in the 1st quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock worth $983,085,000 after purchasing an additional 19,602,668 shares during the period. Norges Bank bought a new position in shares of CSX in the fourth quarter worth about $732,770,000. Capital World Investors grew its stake in shares of CSX by 4.4% during the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock valued at $6,936,719,000 after acquiring an additional 7,841,524 shares during the period. Third Point LLC purchased a new stake in CSX in the 1st quarter worth approximately $276,620,000. Finally, Soroban Capital Partners LP raised its stake in CSX by 22.8% during the 3rd quarter. Soroban Capital Partners LP now owns 39,572,504 shares of the transportation company’s stock worth $1,176,886,000 after acquiring an additional 7,338,924 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.
CSX Company Profile (Get Rating)
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 transports chemicals, agricultural and food products, automotive, minerals, 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.
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