Stephens Reiterates “Overweight” Rating for CSX (NASDAQ:CSX)

CSX (NASDAQ:CSX)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research note issued on Friday,Benzinga reports. They presently have a $38.00 price target on the transportation company’s stock. Stephens’ target price would suggest a potential upside of 15.84% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Citigroup cut their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Barclays cut their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets cut their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Evercore ISI cut their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $38.17.

CSX Trading Down 2.6 %

Shares of NASDAQ:CSX traded down $0.87 on Friday, reaching $32.81. 6,756,899 shares of the company traded hands, compared to its average volume of 14,114,631. The business’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $33.95. CSX has a 52 week low of $31.43 and a 52 week high of $40.12. The stock has a market capitalization of $63.26 billion, a P/E ratio of 17.66, 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 (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. As a group, equities analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

Several large investors have recently made changes to their positions in the business. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC bought a new stake in shares of CSX during the third quarter valued at approximately $31,000. Addison Advisors LLC increased its position in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 812 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of CSX by 43.4% during the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $41,000. 73.57% of the stock is currently 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.