Wall Street Zen Upgrades CSX (NASDAQ:CSX) to “Hold”

CSX (NASDAQ:CSX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price target on shares of CSX from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday. Raymond James Financial reiterated an “outperform” rating and set a $37.00 target price (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 target price (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

CSX Stock Performance

NASDAQ:CSX opened at $35.76 on Friday. The company has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $31.26. The company has a market cap of $66.67 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 3.13 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX has a 52 week low of $26.22 and a 52 week high of $37.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, equities analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CSX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the 4th quarter worth $27,000. Rossby Financial LCC acquired a new position in shares of CSX during the 1st quarter worth $28,000. Accredited Wealth Management LLC acquired a new position in shares of CSX during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX during the 4th quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX during the 1st quarter worth $30,000. 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.