CSX (NASDAQ:CSX) Price Target Cut to $36.00 by Analysts at Royal Bank of Canada

CSX (NASDAQ:CSX) had its price target decreased by investment analysts at Royal Bank of Canada from $37.00 to $36.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s price target points to a potential upside of 4.83% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BMO Capital Markets increased their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Thursday. TD Cowen increased their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, Raymond James raised their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

CSX Trading Down 0.1 %

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

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

Hedge Funds Weigh In On CSX

Several large investors have recently made changes to their positions in CSX. Bornite Capital Management LP bought a new position in shares of CSX during the 1st quarter valued at about $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of CSX by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock worth $230,637,000 after buying an additional 347,514 shares during the period. Blair William & Co. IL increased its position in shares of CSX by 12.7% in the first quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock worth $4,581,000 after acquiring an additional 13,829 shares in the last quarter. Sei Investments Co. increased its position in shares of CSX by 4.5% in the first quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock worth $7,361,000 after acquiring an additional 8,488 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of CSX by 16.8% in the first quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after acquiring an additional 10,276 shares in the last quarter. 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.