Bank of America Lowers CSX (NASDAQ:CSX) Price Target to $30.00

CSX (NASDAQ:CSX - Get Free Report) had its price objective decreased by investment analysts at Bank of America from $33.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Bank of America's target price suggests a potential upside of 8.77% from the company's current price.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group dropped their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Stephens reissued an "overweight" rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Loop Capital cut CSX from a "buy" rating to a "hold" rating and decreased their target price for the company from $40.00 to $34.00 in a research report on Monday, February 3rd. Robert W. Baird reduced their price target on shares of CSX from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, Raymond James dropped their price objective on shares of CSX from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.95.

CSX Stock Up 0.4 %

Shares of NASDAQ:CSX traded up $0.12 during midday trading on Thursday, hitting $27.58. The stock had a trading volume of 5,275,073 shares, compared to its average volume of 12,706,150. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a market cap of $51.98 billion, a P/E ratio of 15.40, a PEG ratio of 1.92 and a beta of 1.23. CSX has a 12 month low of $26.22 and a 12 month high of $37.10. The business's 50-day simple moving average is $29.96 and its 200-day simple moving average is $32.43.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares during the period. Diversified Trust Co increased its stake in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company's stock valued at $2,330,000 after acquiring an additional 46,473 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of CSX during the 4th quarter valued at $1,084,000. Carnegie Investment Counsel boosted its stake in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company's stock worth $19,751,000 after acquiring an additional 8,474 shares in the last quarter. Finally, Waycross Partners LLC grew its holdings in CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock worth $19,990,000 after purchasing an additional 40,611 shares during the period. Institutional investors own 73.57% of the company's stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.