CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reissued by Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $65.00 target price on the transportation company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 30.42% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus lifted their price objective on CSX Corporation from $47.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, April 20th. TD Securities decreased their price objective on CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. BidaskClub downgraded CSX Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “market perform” rating and set a $54.00 price objective (up from $48.00) on shares of CSX Corporation in a report on Sunday, April 23rd. Finally, Aegis raised CSX Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $64.00 in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $53.74.
CSX Corporation (NASDAQ CSX) opened at 49.84 on Friday. CSX Corporation has a 12-month low of $27.82 and a 12-month high of $55.48. The firm’s 50-day moving average price is $52.29 and its 200-day moving average price is $50.19. The company has a market cap of $45.52 billion, a P/E ratio of 26.07 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts expect that CSX Corporation will post $2.30 EPS for the current year.
CSX Corporation announced that its board has approved a share buyback plan on Thursday, April 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the transportation company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Ridge Lp Mantle acquired 1,357,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.79% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in CSX Corporation by 8.7% in the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock worth $102,000 after buying an additional 175 shares in the last quarter. Gradient Investments LLC boosted its stake in CSX Corporation by 38.1% in the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock worth $107,000 after buying an additional 539 shares in the last quarter. Parallel Advisors LLC boosted its stake in CSX Corporation by 14.9% in the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after buying an additional 285 shares in the last quarter. Reilly Financial Advisors LLC boosted its stake in CSX Corporation by 33.1% in the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock worth $110,000 after buying an additional 500 shares in the last quarter. Finally, LBA Wealth Management LLC boosted its stake in CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock worth $122,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 70.02% of the company’s stock.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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