CSX (NASDAQ:CSX) Rating Lowered to Sell at Wall Street Zen

CSX (NASDAQ:CSX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Citigroup raised their price objective on shares of CSX from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Robert W. Baird lifted their price target on shares of CSX from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Finally, Susquehanna reiterated a “neutral” rating and set a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Price Performance

Shares of CSX opened at $34.58 on Friday. CSX has a twelve month low of $26.22 and a twelve month high of $37.25. The firm’s fifty day simple moving average is $34.33 and its 200-day simple moving average is $31.66. The firm has a market capitalization of $64.47 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.58 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its position in CSX by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares during the last quarter. WFA of San Diego LLC purchased a new position in CSX during the 2nd quarter worth $28,000. BI Asset Management Fondsmaeglerselskab A S grew its position in CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 2,281 shares during the last quarter. SVB Wealth LLC purchased a new position in CSX during the 2nd quarter worth $807,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in CSX during the 2nd quarter worth $25,000. 73.57% of the stock is 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.