CSX Corporation (CSX) Earns “Buy” Rating from Royal Bank Of Canada

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.

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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.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

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