Jefferies Financial Group Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target dropped by investment analysts at Jefferies Financial Group from $37.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 18.62% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Wells Fargo & Company reduced their target price on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada dropped their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of CSX in a research note on Monday, January 27th. Finally, BMO Capital Markets decreased their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.85.

CSX Stock Down 2.9 %

Shares of CSX opened at $27.82 on Wednesday. The business’s 50 day moving average is $30.68 and its 200 day moving average is $32.76. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a market capitalization of $52.43 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Research analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Trust Co purchased a new stake in shares of CSX during the first quarter valued at $493,000. Naples Global Advisors LLC lifted its holdings in CSX by 1.2% during the 1st quarter. Naples Global Advisors LLC now owns 100,379 shares of the transportation company’s stock valued at $2,954,000 after buying an additional 1,202 shares in the last quarter. Portside Wealth Group LLC boosted its position in CSX by 3.2% in the 1st quarter. Portside Wealth Group LLC now owns 26,974 shares of the transportation company’s stock valued at $870,000 after buying an additional 841 shares during the period. Chronos Wealth Management LLC grew its stake in CSX by 2.5% in the 1st quarter. Chronos Wealth Management LLC now owns 17,110 shares of the transportation company’s stock worth $504,000 after acquiring an additional 425 shares in the last quarter. Finally, Sendero Wealth Management LLC increased its position in shares of CSX by 4.8% during the first quarter. Sendero Wealth Management LLC now owns 14,935 shares of the transportation company’s stock worth $440,000 after acquiring an additional 678 shares during the period. 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.