Barclays Increases CSX (NASDAQ:CSX) Price Target to $40.00

CSX (NASDAQ:CSX) had its price target boosted by analysts at Barclays from $38.00 to $40.00 in a report issued on Friday,MarketScreener reports. Barclays‘s price objective indicates a potential upside of 9.29% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Royal Bank Of Canada increased their price objective on CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised CSX from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Thursday, July 24th. Finally, Wolfe Research lifted their price objective on CSX from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

CSX Stock Performance

NASDAQ CSX opened at $36.60 on Friday. The company has a market capitalization of $68.23 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.86 and a beta of 1.29. CSX has a twelve month low of $26.22 and a twelve month high of $37.25. The stock has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $32.43. 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 posted its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.60 billion. CSX had a return on equity of 25.16% and a net margin of 20.55%.CSX’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Sell-side analysts expect that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock worth $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of CSX by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock worth $690,359,000 after purchasing an additional 2,599,518 shares in the last quarter. Northern Trust Corp boosted its position in shares of CSX by 4.6% during the 1st quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company’s stock worth $649,442,000 after purchasing an additional 969,567 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CSX by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company’s stock worth $551,540,000 after purchasing an additional 1,856,322 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of CSX by 19.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company’s stock worth $450,635,000 after purchasing an additional 2,454,895 shares in the last quarter. 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.