Citigroup Cuts CSX (NASDAQ:CSX) Price Target to $39.00

CSX (NASDAQ:CSX) had its price target decreased by analysts at Citigroup from $40.00 to $39.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup’s price target would indicate a potential upside of 15.83% from the stock’s previous close.

CSX has been the subject of several other reports. TD Cowen decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Susquehanna cut their target price on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

CSX Price Performance

Shares of CSX opened at $33.67 on Friday. The company has a 50 day moving average of $33.62 and a two-hundred day moving average of $33.95. The company has a market cap of $64.93 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX has a twelve month low of $31.43 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares during the period. Geode Capital Management LLC lifted its position in shares of CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after buying an additional 190,346 shares in the last quarter. Fisher Asset Management LLC grew its stake in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. FMR LLC increased its holdings in 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CSX by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after acquiring an additional 737,221 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.