Raymond James Financial Reiterates “Outperform” Rating for CSX (NASDAQ:CSX)

CSX (NASDAQ:CSX)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James Financial in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $37.00 target price on the transportation company’s stock, up from their previous target price of $33.00. Raymond James Financial’s price target suggests a potential upside of 11.24% from the company’s current price.

A number of other analysts also recently commented on the stock. Baird R W raised shares of CSX to a “strong-buy” rating in a report on Tuesday, July 1st. Jefferies Financial Group decreased their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on shares of CSX from $28.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Benchmark restated a “buy” rating and set a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $34.82.

CSX Stock Down 0.7%

CSX stock opened at $33.26 on Tuesday. The company has a market cap of $62.48 billion, a P/E ratio of 19.92, a P/E/G ratio of 3.00 and a beta of 1.23. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The company’s 50-day moving average price is $32.05 and its 200 day moving average price is $31.13. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, research analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CSX

Institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after buying an additional 849 shares during the period. Proficio Capital Partners LLC grew its stake in CSX by 20.9% during the fourth quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company’s stock worth $589,000 after buying an additional 3,159 shares during the period. Farther Finance Advisors LLC grew its stake in CSX by 6.3% during the fourth quarter. Farther Finance Advisors LLC now owns 8,772 shares of the transportation company’s stock worth $283,000 after buying an additional 518 shares during the period. Natixis Advisors LLC grew its stake in CSX by 37.6% during the fourth quarter. Natixis Advisors LLC now owns 908,178 shares of the transportation company’s stock worth $29,307,000 after buying an additional 248,220 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in CSX by 3.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 118,337 shares of the transportation company’s stock worth $3,819,000 after buying an additional 3,533 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.