CSX (NASDAQ:CSX) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of CSX (NASDAQ:CSX) from an equal weight rating to an overweight rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $40.00 price target on the transportation company’s stock, up from their prior price target of $37.00.

Several other research analysts have also recently commented on the company. Bank of America reduced their target price on CSX from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday. Baird R W upgraded CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded CSX from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.59.

CSX Stock Down 0.1%

Shares of CSX stock opened at $33.78 on Thursday. CSX has a 12 month low of $26.22 and a 12 month high of $37.25. The firm has a market cap of $62.98 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. The stock has a 50 day moving average of $34.19 and a 200-day moving average of $31.75. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last issued its 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 firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.CSX’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. On average, equities analysts predict that CSX will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX’s dividend payout ratio (DPR) is 32.10%.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently made changes to their positions in CSX. Nuveen LLC acquired a new stake in shares of CSX in the first quarter valued at $182,550,000. Bank of New York Mellon Corp boosted its holdings in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock valued at $835,336,000 after acquiring an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CSX by 1,283.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock valued at $123,786,000 after acquiring an additional 3,887,644 shares during the last quarter. Amundi boosted its holdings in CSX by 34.5% in the first quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock valued at $364,357,000 after acquiring an additional 3,341,136 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock valued at $690,359,000 after acquiring an additional 2,599,518 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.