Barclays Lowers CSX (NASDAQ:CSX) Price Target to $31.00

CSX (NASDAQ:CSX) had its price objective lowered by equities researchers at Barclays from $35.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price suggests a potential upside of 12.16% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of CSX in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Evercore ISI dropped their price objective on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group decreased their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.95.

CSX Stock Performance

Shares of CSX stock 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 stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The business has a 50-day moving average of $30.07 and a 200 day moving average of $32.50. CSX has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC raised its position in CSX by 35.7% in the 1st quarter. Cornerstone Wealth Management LLC now owns 14,380 shares of the transportation company’s stock valued at $423,000 after purchasing an additional 3,784 shares during the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of CSX in the first quarter valued at about $241,000. Bfsg LLC raised its holdings in shares of CSX by 0.8% in the first quarter. Bfsg LLC now owns 286,743 shares of the transportation company’s stock valued at $8,439,000 after buying an additional 2,201 shares during the last quarter. AA Financial Advisors LLC boosted its stake in shares of CSX by 3.7% during the first quarter. AA Financial Advisors LLC now owns 33,101 shares of the transportation company’s stock worth $974,000 after buying an additional 1,187 shares during the period. Finally, Blackston Financial Advisory Group LLC grew its holdings in shares of CSX by 12.3% during the first quarter. Blackston Financial Advisory Group LLC now owns 17,017 shares of the transportation company’s stock worth $501,000 after buying an additional 1,865 shares during the last quarter. 73.57% 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 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.