BMO Capital Markets Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price dropped by equities research analysts at BMO Capital Markets from $41.00 to $40.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ price target points to a potential downside of 2.96% from the stock’s current price.

CSX has been the topic of several other reports. Raymond James Financial increased their target price on shares of CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price target on CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Rothschild & Co Redburn upped their price target on CSX from $42.50 to $45.50 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada increased their price objective on CSX from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, March 26th. Finally, Jefferies Financial Group raised their price objective on CSX from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

CSX Stock Performance

CSX stock opened at $41.22 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $76.70 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.29 and a beta of 1.25. CSX has a 12 month low of $26.22 and a 12 month high of $43.35. The firm has a 50 day moving average of $40.35 and a two-hundred day moving average of $37.24.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Insider Activity

In other news, EVP Stephen Fortune sold 31,456 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen F. Angel acquired 25,000 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was acquired at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the purchase, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This trade represents a 20.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 188,123 shares of company stock valued at $7,454,854. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of CSX in the second quarter worth $25,000. FNY Investment Advisers LLC raised its stake in CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new stake in CSX in the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. boosted its holdings in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 729 shares during the period. Finally, CrossGen Wealth LLC acquired a new stake in CSX in the 4th quarter worth $54,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.