Citigroup Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target cut by stock analysts at Citigroup from $40.00 to $39.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective indicates a potential upside of 15.83% from the stock’s previous close.

Several other research firms have also commented on CSX. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company lowered their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. TD Cowen reduced their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Barclays cut their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.33.

CSX Stock Performance

CSX opened at $33.67 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $64.93 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.06 and a beta of 1.22. The company has a fifty day moving average of $33.62 and a 200 day moving average of $33.95. CSX has a fifty-two week low of $31.43 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. As a group, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Several institutional investors have recently made changes to their positions in CSX. Avior Wealth Management LLC grew its holdings in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after acquiring an additional 293 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of CSX by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after purchasing an additional 306 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in CSX by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the period. J.W. Cole Advisors Inc. raised its stake in CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares in the last quarter. Finally, Associated Banc Corp increased its holdings in shares of CSX by 0.6% in the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after acquiring an additional 310 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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.