TD Cowen Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its target price raised by TD Cowen from $38.00 to $39.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective would indicate a potential upside of 6.56% from the company’s current price.

A number of other equities research analysts have also weighed in on CSX. UBS Group set a $45.00 price objective on shares of CSX and gave the company a “buy” rating in a report on Friday. Evercore ISI restated an “outperform” rating and set a $39.00 target price (up from $37.00) on shares of CSX in a research report on Friday. The Goldman Sachs Group decreased their target price on shares of CSX from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of CSX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Finally, Stephens boosted their target price on shares of CSX from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

CSX Stock Performance

Shares of CSX stock opened at $36.60 on Friday. The firm has a market cap of $68.23 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.86 and a beta of 1.29. The company’s 50 day moving average is $34.34 and its 200 day moving average is $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 has a 52-week low of $26.22 and a 52-week high of $37.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 20.55% and a return on equity of 25.16%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company posted $0.45 earnings per share. CSX’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Institutional Trading of CSX

Large investors have recently bought and sold shares of the business. Atlas Brown Inc. acquired a new position in CSX in the third quarter valued at approximately $207,000. Indiana Trust & Investment Management Co lifted its holdings in CSX by 9.2% in the third quarter. Indiana Trust & Investment Management Co now owns 17,754 shares of the transportation company’s stock valued at $630,000 after acquiring an additional 1,500 shares during the last quarter. Regent Peak Wealth Advisors LLC acquired a new position in CSX in the third quarter valued at approximately $274,000. Farther Finance Advisors LLC lifted its holdings in CSX by 5.8% in the third quarter. Farther Finance Advisors LLC now owns 28,294 shares of the transportation company’s stock valued at $1,005,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Old Port Advisors acquired a new position in CSX in the third quarter valued at approximately $307,000. 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.