CSX (NASDAQ:CSX) PT Raised to $24.00 at Morgan Stanley

CSX (NASDAQ:CSX – Get Rating) had its target price lifted by investment analysts at Morgan Stanley from $23.00 to $24.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the transportation company’s stock. Morgan Stanley’s price target suggests a potential downside of 26.13% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Citigroup cut their price target on CSX from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, September 29th. Susquehanna downgraded CSX from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $29.00 in a research report on Wednesday, September 28th. UBS Group downgraded CSX from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $31.00 in a research report on Tuesday, September 27th. Benchmark dropped their price objective on CSX to $32.00 in a research report on Thursday, October 13th. Finally, Barclays raised their price objective on CSX from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.48.

CSX Stock Performance

Shares of CSX stock opened at $32.49 on Wednesday. The firm has a market cap of $68.31 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.77 and a beta of 1.24. The company has a current ratio of 1.72, a quick ratio of 1.57 and a debt-to-equity ratio of 1.39. CSX has a 12 month low of $25.80 and a 12 month high of $38.63. The stock’s fifty day moving average price is $31.46 and its 200-day moving average price is $30.62.

CSX (NASDAQ:CSX – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The transportation company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.75 billion. CSX had a return on equity of 30.32% and a net margin of 28.06%. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. On average, equities research analysts expect that CSX will post 1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. OneAscent Wealth Management LLC raised its position in CSX by 4.7% during the fourth quarter. OneAscent Wealth Management LLC now owns 15,236 shares of the transportation company’s stock valued at $472,000 after acquiring an additional 680 shares in the last quarter. Defender Capital LLC. purchased a new position in CSX during the fourth quarter valued at approximately $214,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in CSX by 4.7% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 40,183 shares of the transportation company’s stock valued at $1,245,000 after acquiring an additional 1,786 shares in the last quarter. OneAscent Financial Services LLC raised its position in CSX by 14.9% during the fourth quarter. OneAscent Financial Services LLC now owns 12,911 shares of the transportation company’s stock valued at $400,000 after acquiring an additional 1,671 shares in the last quarter. Finally, DNB Asset Management AS raised its position in CSX by 1.8% during the fourth quarter. DNB Asset Management AS now owns 656,180 shares of the transportation company’s stock valued at $20,328,000 after acquiring an additional 11,353 shares in the last quarter. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

CSX Company Profile

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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.