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

CSX (NASDAQ:CSX)‘s stock had its “outperform” rating reissued by Raymond James Financial in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $40.00 price target on the transportation company’s stock, up from their prior price target of $39.00. Raymond James Financial’s price objective suggests a potential upside of 9.29% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada lifted their target price on shares of CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen lifted their target price on shares of CSX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of CSX in a research note on Monday, September 29th. Citigroup reiterated a “buy” rating and issued a $41.00 target price (up from $40.00) on shares of CSX in a research note on Monday, October 13th. Finally, Robert W. Baird reduced their target price on shares of CSX from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

CSX Stock Performance

CSX stock opened at $36.60 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $68.23 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.86 and a beta of 1.29. The firm has a 50 day simple moving average of $34.34 and a 200 day simple moving average of $32.43. CSX has a 52 week low of $26.22 and a 52 week high of $37.25.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, October 16th. 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 $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 25.16%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share. Research analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX in the second quarter valued at approximately $25,000. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter valued at approximately $30,000. Rossby Financial LCC bought a new position in shares of CSX in the first quarter valued at approximately $28,000. Finally, Kessler Investment Group LLC bought a new position in shares of CSX in the first quarter valued at approximately $32,000. 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.