CSX (NASDAQ:CSX) Price Target Cut to $75.00 by Analysts at Royal Bank of Canada

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CSX (NASDAQ:CSX) had its target price dropped by research analysts at Royal Bank of Canada to $75.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 4.41% from the company’s previous close.

A number of other research firms have also weighed in on CSX. UBS Group restated a “buy” rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Friday, April 5th. Susquehanna Bancshares restated a “neutral” rating on shares of CSX in a research note on Wednesday, April 3rd. Stifel Nicolaus set a $80.00 target price on shares of CSX and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Goldman Sachs Group downgraded EXPERIAN PLC/ADR from a “buy” rating to a “neutral” rating in a report on Wednesday, July 10th. Finally, Raymond James reaffirmed a “reduce” rating and issued a $48.00 price target (up from $45.00) on shares of Hancock Whitney in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $78.13.

CSX stock opened at $71.83 on Wednesday. The stock’s 50 day moving average price is $77.28. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.68. CSX has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that CSX will post 4.19 earnings per share for the current fiscal year.

In other news, EVP Nathan D. Goldman sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.83% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. CWM LLC raised its position in CSX by 10.7% in the first quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after acquiring an additional 130 shares in the last quarter. Community Bank & Trust Waco Texas raised its position in CSX by 1.1% in the second quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after acquiring an additional 132 shares in the last quarter. Hilltop Holdings Inc. raised its position in CSX by 1.7% in the fourth quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock worth $551,000 after acquiring an additional 149 shares in the last quarter. RFG Advisory LLC raised its position in CSX by 3.6% in the first quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after acquiring an additional 150 shares in the last quarter. Finally, Adirondack Trust Co. raised its position in CSX by 2.2% in the first quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after acquiring an additional 150 shares in the last quarter. 75.74% of the stock is owned by institutional investors and hedge funds.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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