CSX (NASDAQ:CSX) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of CSX (NASDAQ:CSX) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group restated a “neutral” rating and set a $35.00 price objective on shares of CSX in a report on Monday, June 2nd. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus decreased their price target on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group dropped their price objective on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Citigroup reduced 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. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $34.14.

CSX Stock Performance

Shares of CSX stock opened at $33.43 on Tuesday. The business’s fifty day simple moving average is $31.09 and its 200 day simple moving average is $31.06. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. CSX has a 12 month low of $26.22 and a 12 month high of $37.10. The firm has a market capitalization of $62.80 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. As a group, analysts anticipate that CSX will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX’s payout ratio is 31.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in CSX during the fourth quarter valued at approximately $780,194,000. Ameriprise Financial Inc. increased its holdings in shares of CSX by 89.7% in 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 last quarter. Nuveen LLC purchased a new stake in shares of CSX during the 1st quarter valued at $182,550,000. Mitsubishi UFJ Trust & Banking Corp lifted 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 acquiring an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI bought a new stake in shares of CSX during the 4th quarter worth $178,259,000. 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.