Cowen Reiterates Market Perform Rating for CSX (CSX)

Cowen restated their market perform rating on shares of CSX (NASDAQ:CSX) in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have a $61.00 target price on the transportation company’s stock, up from their previous target price of $54.00.

A number of other analysts have also recently weighed in on the stock. BidaskClub cut shares of CSX from a hold rating to a sell rating in a research note on Thursday, November 2nd. UBS Group set a $68.00 target price on shares of CSX and gave the stock a buy rating in a research note on Friday, November 17th. Goldman Sachs Group initiated coverage on shares of CSX in a research note on Monday, November 13th. They set a sell rating and a $45.00 target price on the stock. Zacks Investment Research cut shares of CSX from a hold rating to a sell rating in a research note on Tuesday, September 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CSX from $58.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. CSX currently has a consensus rating of Buy and an average price target of $60.38.

CSX (NASDAQ:CSX) traded down $0.56 during midday trading on Wednesday, hitting $57.49. 7,540,000 shares of the company’s stock were exchanged, compared to its average volume of 8,800,000. The company has a market capitalization of $51,380.00, a PE ratio of 9.47, a PEG ratio of 1.50 and a beta of 1.35. CSX has a 12-month low of $42.66 and a 12-month high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm 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 17.16%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. analysts expect that CSX will post 2.89 EPS for the current year.

CSX declared that its board has initiated a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Gary Keith Anderson bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CSX. Oakbrook Investments LLC raised its holdings in shares of CSX by 8.5% during the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 5,500 shares during the period. Pinebridge Investments L.P. raised its holdings in shares of CSX by 515.7% during the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock valued at $488,000 after purchasing an additional 7,483 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of CSX by 12.0% during the third quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock valued at $30,650,000 after purchasing an additional 60,300 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of CSX during the third quarter valued at about $633,000. Finally, South State Corp raised its holdings in shares of CSX by 36.3% during the third quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after purchasing an additional 6,239 shares during the period. Institutional investors and hedge funds own 70.17% of the company’s stock.

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About CSX

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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