CSX (NASDAQ:CSX) Given New $42.00 Price Target at Argus

CSX (NASDAQ:CSX) had its target price lifted by Argus from $40.00 to $42.00 in a report issued on Tuesday morning,MarketScreener reports. The firm currently has a buy rating on the transportation company’s stock.

CSX has been the topic of several other reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, December 18th. Stephens lifted their price objective on CSX from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Susquehanna restated a “neutral” rating and set a $39.00 target price on shares of CSX in a report on Friday. Evercore ISI lowered their target price on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, January 23rd. Finally, Wolfe Research cut their price target on CSX from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, January 8th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.42.

CSX Stock Up 0.5%

Shares of NASDAQ:CSX opened at $37.67 on Tuesday. The company has a market capitalization of $70.15 billion, a PE ratio of 24.46, a P/E/G ratio of 1.90 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.71 and a current ratio of 0.81. The company’s fifty day moving average is $36.04 and its 200-day moving average is $35.20. CSX has a 52 week low of $26.22 and a 52 week high of $38.11.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. CSX’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. Equities research analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allstate Corp acquired a new position in CSX in the third quarter valued at approximately $2,363,000. Crestwood Advisors Group LLC acquired a new position in shares of CSX in the 2nd quarter valued at $237,000. City Holding Co. boosted its position in shares of CSX by 91.8% in the 3rd quarter. City Holding Co. now owns 47,821 shares of the transportation company’s stock worth $1,698,000 after purchasing an additional 22,883 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of CSX by 83.4% during the second quarter. Arkadios Wealth Advisors now owns 48,182 shares of the transportation company’s stock worth $1,572,000 after purchasing an additional 21,906 shares during the period. Finally, Crews Bank & Trust grew its stake in shares of CSX by 15.8% during the second quarter. Crews Bank & Trust now owns 13,196 shares of the transportation company’s stock worth $431,000 after purchasing an additional 1,800 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

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.