Stifel Nicolaus Lowers CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its price objective reduced by equities research analysts at Stifel Nicolaus from $37.00 to $34.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.86% from the stock’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Wells Fargo & Company lowered their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Finally, Barclays dropped their target price on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $35.55.

CSX Stock Performance

Shares of CSX opened at $27.90 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average price of $30.39 and a 200-day moving average price of $32.63. The company has a market cap of $52.58 billion, a PE ratio of 15.59, a price-to-earnings-growth 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.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSX. Assenagon Asset Management S.A. increased its position in shares of CSX by 104.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,578,290 shares of the transportation company’s stock valued at $134,739,000 after purchasing an additional 2,333,674 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in CSX by 19.2% in the first quarter. Franklin Street Advisors Inc. NC now owns 9,262 shares of the transportation company’s stock worth $273,000 after acquiring an additional 1,492 shares during the period. Handelsbanken Fonder AB raised its stake in CSX by 2.6% in the first quarter. Handelsbanken Fonder AB now owns 1,127,915 shares of the transportation company’s stock worth $33,195,000 after buying an additional 28,973 shares in the last quarter. Petredis Investment Advisors LLC boosted its holdings in shares of CSX by 1.9% in the 1st quarter. Petredis Investment Advisors LLC now owns 67,518 shares of the transportation company’s stock valued at $1,987,000 after buying an additional 1,273 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its position in shares of CSX by 9.4% during the first quarter. Accurate Wealth Management LLC now owns 24,966 shares of the transportation company’s stock worth $699,000 after purchasing an additional 2,149 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.