Argus Increases CSX (NASDAQ:CSX) Price Target to $42.00

CSX (NASDAQ:CSX) had its price target lifted by investment analysts at Argus from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the transportation company’s stock. Argus’ target price would suggest a potential upside of 11.36% from the company’s previous close.

A number of other brokerages have also commented on CSX. Jefferies Financial Group set a $42.00 price target on shares of CSX and gave the company a “buy” rating in a research note on Friday, October 17th. Robert W. Baird set a $40.00 price objective on shares of CSX and gave the stock an “outperform” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating on shares of CSX in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. reduced their price target on CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.42.

CSX Stock Up 0.7%

NASDAQ:CSX traded up $0.25 during trading hours on Tuesday, reaching $37.72. 1,572,342 shares of the stock were exchanged, compared to its average volume of 15,510,156. The stock has a market cap of $70.23 billion, a PE ratio of 24.45, a PEG ratio of 2.88 and a beta of 1.30. CSX has a twelve month low of $26.22 and a twelve month high of $38.11. The firm has a 50 day moving average of $35.96 and a 200 day moving average of $35.17. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.71.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that CSX will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSX. Kingswood Wealth Advisors LLC increased its stake in shares of CSX by 4.1% in the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after buying an additional 331 shares during the period. Moloney Securities Asset Management LLC increased its holdings in CSX by 2.7% in the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock valued at $463,000 after purchasing an additional 339 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in CSX by 0.9% in the second quarter. Stock Yards Bank & Trust Co. now owns 45,558 shares of the transportation company’s stock valued at $1,487,000 after purchasing an additional 400 shares during the period. Gleason Group Inc. raised its position in CSX by 19.1% during the 4th quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company’s stock worth $96,000 after purchasing an additional 425 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in CSX by 0.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock worth $2,660,000 after buying an additional 510 shares during the period. 73.57% of the stock is currently owned by institutional investors.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.