Raymond James Financial Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target raised by stock analysts at Raymond James Financial from $33.00 to $37.00 in a note issued to investors on Tuesday, July 15th, MarketBeat.com reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James Financial’s price target would suggest a potential upside of 3.47% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays restated an “overweight” rating and set a $36.00 target price (up from $31.00) on shares of CSX in a report on Thursday, July 10th. Susquehanna reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a report on Tuesday, June 24th. Stifel Nicolaus dropped their price objective on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 14th. Jefferies Financial Group dropped their price objective on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Baird R W raised CSX to a “strong-buy” rating in a research report on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.76 during mid-day trading on Tuesday, hitting $35.76. The company had a trading volume of 31,705,778 shares, compared to its average volume of 15,800,155. The company has a market capitalization of $67.18 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 3.13 and a beta of 1.23. CSX has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52. The stock’s 50-day moving average price is $32.60 and its 200-day moving average price is $31.24.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.39% and a net margin of 21.92%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that CSX will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently bought and sold shares of the stock. Associated Banc Corp raised its holdings in CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company’s stock worth $1,189,000 after purchasing an additional 356 shares during the period. Portside Wealth Group LLC raised its holdings in CSX by 1.3% during the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after acquiring an additional 361 shares during the period. Ullmann Wealth Partners Group LLC raised its holdings in CSX by 1.3% during the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock valued at $862,000 after acquiring an additional 363 shares during the period. Family Legacy Inc. raised its holdings in CSX by 0.6% during the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company’s stock valued at $2,190,000 after acquiring an additional 375 shares during the period. Finally, LRI Investments LLC raised its holdings in CSX by 4.8% during the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company’s stock valued at $243,000 after acquiring an additional 375 shares during the period. 73.57% of the stock is owned by 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.