Argus Boosts CSX (CSX) Price Target to $66.00

CSX (NASDAQ:CSX) had its target price hoisted by stock analysts at Argus from $64.00 to $66.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the transportation company’s stock. Argus’ price target would indicate a potential upside of 14.15% from the stock’s current price.

A number of other brokerages have also recently issued reports on CSX. Scotiabank cut shares of CSX from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $63.00 to $43.00 in a report on Friday, January 12th. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Royal Bank of Canada upped their target price on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Morgan Stanley cut shares of CSX from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $44.00 to $43.00 in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. CSX has an average rating of “Buy” and an average target price of $60.22.

CSX (NASDAQ CSX) opened at $57.82 on Thursday. CSX has a one year low of $36.21 and a one year high of $60.04. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05. The company has a market cap of $51,560.00, a PE ratio of 9.53, a PEG ratio of 1.52 and a beta of 1.35.

CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 18.41%. CSX’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. research analysts anticipate that CSX will post 2.87 earnings per share for the current year.

CSX declared that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the stock in a transaction dated Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CSX. Cbre Clarion Securities LLC boosted its position in shares of CSX by 1.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock worth $1,282,000 after acquiring an additional 400 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of CSX by 2.6% during the 2nd quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock worth $1,186,000 after acquiring an additional 557 shares in the last quarter. New England Research & Management Inc. boosted its position in shares of CSX by 3.5% during the 4th quarter. New England Research & Management Inc. now owns 25,323 shares of the transportation company’s stock worth $1,393,000 after acquiring an additional 850 shares in the last quarter. First Command Financial Services Inc. boosted its position in shares of CSX by 130.0% during the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Community Bank & Trust Waco Texas boosted its position in shares of CSX by 12.4% during the 4th quarter. Community Bank & Trust Waco Texas now owns 11,629 shares of the transportation company’s stock worth $640,000 after acquiring an additional 1,279 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.

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CSX Company Profile

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 (NASDAQ:CSX)

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