Royal Bank of Canada Lowers CSX (NASDAQ:CSX) Price Target to $33.00

CSX (NASDAQ:CSX) had its price target decreased by equities researchers at Royal Bank of Canada from $34.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 0.96% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets lowered their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday. Evercore ISI reduced their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Loop Capital reduced their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.68.

CSX Stock Down 2.9 %

CSX stock traded down $0.99 during mid-day trading on Friday, hitting $32.69. 14,287,852 shares of the company were exchanged, compared to its average volume of 14,738,221. 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 firm has a market cap of $63.03 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.06 and a beta of 1.22. The firm’s 50 day simple moving average is $33.58 and its 200 day simple moving average is $33.95. CSX has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. On average, sell-side analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CSX by 20.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock valued at $16,139,000 after purchasing an additional 80,423 shares during the period. Diversified Trust Co increased its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares in the last quarter. Thrivent Financial for Lutherans increased its position in CSX by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock valued at $116,521,000 after buying an additional 24,430 shares in the last quarter. Carnegie Investment Counsel increased its position in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after buying an additional 8,474 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in CSX by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after buying an additional 77,488 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.