CSX (NASDAQ:CSX) Lifted to “Buy” at UBS Group

UBS Group upgraded shares of CSX (NASDAQ:CSX) from a neutral rating to a buy rating in a research note published on Wednesday, Benzinga reports. UBS Group currently has $80.00 price objective on the transportation company’s stock, up from their prior price objective of $63.00.

CSX has been the subject of several other reports. Cowen reiterated a neutral rating on shares of CSX in a report on Thursday, April 23rd. Morgan Stanley increased their target price on shares of CSX from $47.00 to $50.00 and gave the stock an equal weight rating in a research report on Thursday, April 23rd. Deutsche Bank lowered their target price on shares of CSX from $90.00 to $71.00 and set a buy rating on the stock in a research report on Thursday, March 12th. Wells Fargo & Co increased their target price on shares of CSX from $47.00 to $50.00 and gave the stock an equal weight rating in a research report on Thursday, April 23rd. Finally, Barclays reissued a buy rating and set a $67.00 target price on shares of CSX in a research report on Tuesday, April 7th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $72.43.

Shares of NASDAQ:CSX traded up $0.73 during midday trading on Wednesday, hitting $68.53. 2,721,667 shares of the stock were exchanged, compared to its average volume of 4,665,264. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.61 and a current ratio of 1.73. CSX has a 52-week low of $46.81 and a 52-week high of $80.62. The business’s fifty day simple moving average is $63.07 and its two-hundred day simple moving average is $69.10. The company has a market capitalization of $51.90 billion, a PE ratio of 16.51, a P/E/G ratio of 2.41 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. CSX had a return on equity of 27.27% and a net margin of 27.74%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.02 earnings per share. CSX’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that CSX will post 3.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, May 28th. CSX’s dividend payout ratio (DPR) is presently 24.94%.

In related news, Director Paul C. Hilal sold 700,000 shares of CSX stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total transaction of $47,817,000.00. Following the sale, the director now directly owns 10,489 shares of the company’s stock, valued at $716,503.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Ballast Advisors LLC bought a new position in shares of CSX in the first quarter valued at approximately $27,000. Private Ocean LLC raised its stake in shares of CSX by 147.8% in the first quarter. Private Ocean LLC now owns 503 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Filbrandt Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $36,000. Westside Investment Management Inc. bought a new position in shares of CSX in the first quarter valued at approximately $38,000. Finally, Key Financial Inc acquired a new stake in shares of CSX in the first quarter valued at approximately $38,000. 73.08% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Featured Story: Pattern Day Trader – What is the PDT Rule?

Analyst Recommendations for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.