BMO Capital Markets Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX - Free Report) had its target price lowered by BMO Capital Markets from $40.00 to $38.00 in a research note published on Friday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the transportation company's stock.

Several other research analysts have also recently weighed in on the company. Barclays reduced their price target on CSX from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday. Stephens restated an "overweight" rating and set a $38.00 price target on shares of CSX in a research report on Friday. Jefferies Financial Group upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Evercore ISI dropped their target price on CSX from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price target on CSX from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.68.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.98 on Friday, hitting $32.69. 25,129,362 shares of the company were exchanged, compared to its average volume of 11,100,801. The firm has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a 1-year low of $31.43 and a 1-year high of $40.12. The stock's 50 day moving average price is $33.53 and its 200 day moving average price is $33.94.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Sell-side analysts predict that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently bought and sold shares of the company. Perpetual Ltd acquired a new position in CSX in the fourth quarter valued at about $83,301,000. Assenagon Asset Management S.A. raised its stake in shares of CSX by 318.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company's stock valued at $112,946,000 after acquiring an additional 2,489,329 shares during the period. FMR LLC lifted its holdings in shares of CSX by 10.2% in the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company's stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company's stock worth $62,019,000 after purchasing an additional 1,360,075 shares during the period. Finally, KBC Group NV increased its holdings in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company's stock valued at $35,966,000 after purchasing an additional 958,957 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

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.