Barclays Cuts CSX (NASDAQ:CSX) Price Target to $40.00

CSX (NASDAQ:CSX) had its price objective reduced by equities research analysts at Barclays from $41.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target would suggest a potential upside of 18.41% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CSX. Susquehanna increased their target price on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.93.

CSX Stock Performance

CSX stock traded down $0.36 during trading hours on Wednesday, hitting $33.78. The stock had a trading volume of 2,222,782 shares, compared to its average volume of 11,566,327. The company has a 50-day moving average of $33.98 and a two-hundred day moving average of $34.28. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market cap of $66.04 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities research analysts anticipate that CSX will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD boosted its position in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Capital International Investors boosted its position in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Interval Partners LP lifted its holdings in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in CSX during the second quarter worth about $116,430,000. Finally, M&G Plc bought a new position in CSX during the first quarter worth about $126,089,000. 73.57% of the stock is currently owned by institutional investors.

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.