Bank of America Lowers CSX (NASDAQ:CSX) Price Target to $39.00

CSX (NASDAQ:CSX) had its price target reduced by equities research analysts at Bank of America from $40.00 to $39.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 13.57% from the company’s previous close.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. TD Cowen raised their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Finally, BMO Capital Markets raised their target price on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.72.

CSX Stock Performance

CSX stock opened at $34.34 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a 50-day moving average of $36.88 and a 200-day moving average of $34.35. The firm has a market cap of $67.22 billion, a P/E ratio of 18.87, a P/E/G ratio of 1.97 and a beta of 1.18. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.88%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business posted $0.48 earnings per share. CSX’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that CSX will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. New Century Financial Group LLC purchased a new position in shares of CSX during the 1st quarter valued at $226,000. Spinnaker Investment Group LLC purchased a new position in shares of CSX during the 1st quarter valued at $200,000. First Trust Direct Indexing L.P. lifted its stake in shares of CSX by 13.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 48,775 shares of the transportation company’s stock valued at $1,808,000 after buying an additional 5,808 shares in the last quarter. Massachusetts Wealth Management lifted its stake in shares of CSX by 5.6% during the 1st quarter. Massachusetts Wealth Management now owns 37,540 shares of the transportation company’s stock valued at $1,392,000 after buying an additional 2,000 shares in the last quarter. Finally, Norden Group LLC increased its holdings in CSX by 3,713.7% in the 1st quarter. Norden Group LLC now owns 303,072 shares of the transportation company’s stock valued at $11,235,000 after acquiring an additional 295,125 shares during the last quarter. Hedge funds and other 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.