Bank of America Lowers CSX (NASDAQ:CSX) Price Target to $30.00

CSX (NASDAQ:CSX) had its price target cut by research analysts at Bank of America from $33.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 8.55% from the company’s current price.

A number of other analysts have also recently issued reports on CSX. Susquehanna dropped their price objective on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. UBS Group dropped their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Raymond James lowered their price target on CSX from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $33.95.

CSX Stock Performance

NASDAQ:CSX opened at $27.64 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The company has a market capitalization of $52.09 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. CSX has a 1 year low of $26.22 and a 1 year high of $37.10. The business has a fifty day simple moving average of $30.07 and a two-hundred day simple moving average of $32.50.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts expect that CSX will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CSX during the fourth quarter valued at about $780,194,000. Ameriprise Financial Inc. raised its position in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after purchasing an additional 9,863,587 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after buying an additional 5,568,624 shares during the period. Finally, Fiduciary Management Inc. WI bought a new position in shares of CSX during the fourth quarter valued at approximately $178,259,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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 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.