CSX Co. (NASDAQ:CSX – Get Free Report) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $33.67, but opened at $32.05. CSX shares last traded at $32.75, with a volume of 5,150,227 shares traded.
The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CSX. TD Cowen reduced their price target on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday. Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday. Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $37.68.
Institutional Trading of CSX
A number of large investors have recently bought and sold shares of CSX. Valley Wealth Managers Inc. grew its stake in shares of CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Morton Brown Family Wealth LLC bought a new stake in shares of CSX in the 3rd quarter worth approximately $31,000. Addison Advisors LLC raised its holdings in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after purchasing an additional 812 shares during the period. Fortitude Family Office LLC raised its holdings in CSX by 43.4% during the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 336 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in CSX during the 4th quarter valued at $41,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.
CSX Price Performance
The business’s 50-day moving average price is $33.53 and its 200 day moving average price is $33.94. The stock has a market capitalization of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39.
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.
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