CSX Corporation (NASDAQ:CSX) had its target price dropped by stock analysts at TD Securities from $64.00 to $63.00 in a report released on Thursday, July 20th. The firm presently has a “buy” rating on the transportation company’s stock. TD Securities’ price objective indicates a potential upside of 29.26% from the stock’s previous close.
CSX has been the subject of several other research reports. Avondale Partners upgraded shares of CSX Corporation from a “market perform” rating to a “market outperform” rating in a research note on Tuesday, March 28th. BidaskClub upgraded shares of CSX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Bank of America Corporation reiterated a “buy” rating and set a $65.00 target price (up from $56.00) on shares of CSX Corporation in a research report on Tuesday, June 6th. Loop Capital reiterated a “hold” rating and set a $52.00 target price on shares of CSX Corporation in a research report on Monday, April 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $58.00 price objective on shares of CSX Corporation in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.74.
CSX Corporation (CSX) traded up 1.70% during trading on Thursday, hitting $49.57. The stock had a trading volume of 3,652,646 shares. The stock has a 50-day moving average price of $52.99 and a 200-day moving average price of $49.96. The company has a market cap of $45.27 billion, a PE ratio of 25.93 and a beta of 1.30. CSX Corporation has a 52 week low of $27.82 and a 52 week high of $55.48.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. CSX Corporation’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. Equities analysts predict that CSX Corporation will post $2.30 EPS for the current year.
CSX Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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In other news, Director Ridge Lp Mantle purchased 1,357,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the purchase, the director now owns 106 shares in the company, valued at approximately $5,468.54. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.79% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in CSX Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock valued at $3,147,122,000 after buying an additional 303,834 shares during the period. Janus Capital Management LLC raised its position in CSX Corporation by 32.9% in the first quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock valued at $773,686,000 after buying an additional 4,114,395 shares during the period. Bank of New York Mellon Corp raised its position in CSX Corporation by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock valued at $483,191,000 after buying an additional 1,896,101 shares during the period. Geode Capital Management LLC raised its position in CSX Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock valued at $426,540,000 after buying an additional 648,154 shares during the period. Finally, Brahman Capital Corp. bought a new position in CSX Corporation during the first quarter valued at about $257,229,000. Institutional investors own 70.02% of the company’s stock.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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