CSX (NASDAQ:CSX) Stock Price Expected to Rise, Bank of America Analyst Says

CSX (NASDAQ:CSX) had its target price increased by equities research analysts at Bank of America from $30.00 to $31.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 1.51% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI cut their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Citigroup cut their price objective on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Argus set a $32.00 price objective on CSX in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.90.

CSX Trading Up 0.8%

NASDAQ:CSX opened at $30.54 on Monday. CSX has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average price of $28.76 and a two-hundred day moving average price of $31.81. The company has a market cap of $57.37 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CSX. Norges Bank bought a new position in CSX during the 4th quarter worth $780,194,000. Ameriprise Financial Inc. increased its position in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after buying an additional 9,863,587 shares during the period. Bank of New York Mellon Corp increased its position in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Nuveen LLC acquired a new stake in shares of CSX during the 1st quarter worth $182,550,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

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.