Wells Fargo & Company Lowers CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its price target lowered by investment analysts at Wells Fargo & Company from $35.00 to $34.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.35% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Sanford C. Bernstein upped their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Citigroup started coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $34.12 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The firm has a 50 day simple moving average of $34.02 and a 200 day simple moving average of $33.97. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. Sell-side analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter valued at approximately $26,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX during the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new position in CSX during the second quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC boosted its position in CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 594 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

About CSX

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.