Raymond James Reiterates “Outperform” Rating for CSX (NASDAQ:CSX)

CSX (NASDAQ:CSX)‘s stock had its “outperform” rating reissued by Raymond James in a research note issued on Thursday,Benzinga reports. They currently have a $33.00 price objective on the transportation company’s stock, down from their prior price objective of $34.00. Raymond James’ target price suggests a potential upside of 19.31% from the company’s current price.

CSX has been the topic of a number of other research reports. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Citigroup decreased their target price on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America decreased their price objective on shares of CSX from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.05.

CSX Stock Up 1.1 %

CSX stock traded up $0.31 during mid-day trading on Thursday, hitting $27.66. The company’s stock had a trading volume of 11,223,836 shares, compared to its average volume of 12,733,796. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a market cap of $52.13 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The firm’s 50 day moving average is $30.29 and its 200 day moving average is $32.60.

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

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently bought and sold shares of CSX. Wellington Management Group LLP lifted its position in CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after buying an additional 15,029 shares in the last quarter. Diversified Trust Co lifted its position in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $1,084,000. Carnegie Investment Counsel increased its holdings in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares in the last quarter. Finally, Waycross Partners LLC increased its holdings in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares in the last quarter. Institutional investors and hedge funds 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.