Bank of America Cuts CSX (NASDAQ:CSX) Price Target to $30.00

CSX (NASDAQ:CSX) had its target price dropped by analysts at Bank of America from $33.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 9.69% from the company’s current price.

CSX has been the topic of a number of other research reports. Barclays reduced their price target on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Jefferies Financial Group lowered their price target on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Finally, Benchmark reissued a “buy” rating and set a $38.00 target price on shares of CSX in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $35.20.

CSX Stock Performance

CSX stock opened at $27.35 on Thursday. The business has a 50 day moving average of $30.29 and a 200-day moving average of $32.60. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $51.55 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities research analysts predict that CSX will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ritholtz Wealth Management raised its position in CSX by 1.7% in the 1st quarter. Ritholtz Wealth Management now owns 93,549 shares of the transportation company’s stock valued at $2,753,000 after buying an additional 1,521 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of CSX by 9.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock worth $1,141,000 after acquiring an additional 3,458 shares in the last quarter. New England Research & Management Inc. raised its holdings in shares of CSX by 1.9% in the first quarter. New England Research & Management Inc. now owns 114,110 shares of the transportation company’s stock valued at $3,358,000 after purchasing an additional 2,100 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of CSX by 87.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,541 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 720 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its holdings in CSX by 4.8% during the first quarter. Everhart Financial Group Inc. now owns 33,312 shares of the transportation company’s stock worth $980,000 after purchasing an additional 1,537 shares during the last quarter. 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.