CSX (NASDAQ:CSX) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

CSX (NASDAQ:CSX) had its price objective cut by Wells Fargo & Company from $36.00 to $34.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus reduced their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. 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. Citigroup reduced their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Susquehanna reduced their price target on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $37.68.

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 has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. The stock has a 50-day simple moving average of $33.58 and a 200-day simple moving average of $33.95.

CSX (NASDAQ:CSX) last issued its earnings results 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 return on equity of 28.92% and a net margin of 24.77%. Equities analysts forecast that CSX will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently made changes to their positions in CSX. Perpetual Ltd acquired a new stake in shares of CSX during the 4th quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. grew its stake in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after buying an additional 2,489,329 shares during the last quarter. FMR LLC grew its stake in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after buying an additional 1,447,651 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock worth $62,019,000 after buying an additional 1,360,075 shares during the last quarter. Finally, KBC Group NV grew its stake in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after buying an additional 958,957 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.