Robert W. Baird Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSXFree Report) had its target price cut by Robert W. Baird from $39.00 to $38.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other analysts have also recently issued reports on the stock. Loop Capital cut their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Evercore ISI cut their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Company decreased their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

Get Our Latest Research Report on CSX

CSX Stock Down 2.9 %

Shares of NASDAQ CSX opened at $32.69 on Friday. 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 has a 1 year low of $31.43 and a 1 year high of $40.12. The stock’s 50-day simple moving average is $33.53 and its 200-day simple moving average is $33.95. The firm has a market cap of $63.04 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSXGet Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, equities analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. Valley Wealth Managers Inc. raised its stake in CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the third quarter valued at $31,000. Addison Advisors LLC raised its stake in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock worth $38,000 after purchasing an additional 336 shares during the period. Finally, Synergy Asset Management LLC bought a new position in CSX in the 4th quarter valued at about $41,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

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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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