UBS Group Cuts CSX (NASDAQ:CSX) Price Target to $44.00

CSX (NASDAQ:CSX) had its price objective decreased by equities researchers at UBS Group from $46.00 to $44.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. UBS Group’s price target would suggest a potential upside of 27.13% from the stock’s current price.

Several other brokerages also recently commented on CSX. Jefferies Financial Group cut their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. Bank of America lowered their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus lifted their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada lowered their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.72.

CSX Trading Up 1.3 %

CSX traded up $0.45 during midday trading on Thursday, hitting $34.61. 10,861,729 shares of the company were exchanged, compared to its average volume of 11,903,461. The firm has a market capitalization of $67.75 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.01 and a beta of 1.18. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The firm’s 50 day moving average price is $36.98 and its 200-day moving average price is $34.32. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities analysts forecast that CSX will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC lifted its stake in CSX by 101,926.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after purchasing an additional 23,300,381 shares during the last quarter. Norges Bank purchased a new position in CSX in the fourth quarter valued at approximately $757,276,000. Price T Rowe Associates Inc. MD lifted its stake in CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. First Trust Advisors LP lifted its stake in CSX by 558.0% in the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock valued at $203,620,000 after purchasing an additional 5,767,302 shares during the last quarter. Finally, Capital International Investors lifted its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. 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.