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.
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
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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