CSX (NASDAQ:CSX) Stock Rating Upgraded by Jefferies Financial Group

CSX (NASDAQ:CSX) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a $37.00 target price on the transportation company’s stock. Jefferies Financial Group’s price target points to a potential upside of 16.43% from the company’s previous close.

Several other research firms also recently issued reports on CSX. Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company cut their target price on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

CSX Trading Down 1.3 %

CSX opened at $31.78 on Friday. The business’s 50 day moving average price is $34.09 and its 200 day moving average price is $33.99. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The stock has a market capitalization of $61.29 billion, a PE ratio of 17.09, a P/E/G ratio of 2.24 and a beta of 1.22. CSX has a one year low of $31.43 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities research analysts expect that CSX will post 1.84 EPS for the current year.

Hedge Funds Weigh In On CSX

A number of large investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares during the last quarter. Geode Capital Management LLC raised its stake in CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after purchasing an additional 190,346 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares during the period. FMR LLC boosted its holdings in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after buying an additional 737,221 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.