CSX (NASDAQ:CSX) Price Target Cut to $36.00 by Analysts at Royal Bank of Canada

CSX (NASDAQ:CSX) had its target price reduced by investment analysts at Royal Bank of Canada from $37.00 to $36.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 3.66% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Bank of America lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group lowered their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, BMO Capital Markets boosted their target price on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.33.

CSX Trading Up 1.7 %

Shares of NASDAQ:CSX traded up $0.57 during trading on Thursday, hitting $34.73. 9,392,524 shares of the company’s stock were exchanged, compared to its average volume of 11,881,182. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a 50-day moving average price of $36.98 and a two-hundred day moving average price of $34.32. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a market cap of $67.99 billion, a P/E ratio of 18.90, a PEG ratio of 2.01 and a beta of 1.18.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm earned $0.48 EPS. CSX’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts predict that CSX will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On CSX

Large investors have recently bought and sold shares of the stock. West Tower Group LLC purchased a new stake in shares of CSX during the 4th quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in CSX in the 4th quarter worth about $27,000. Life Planning Partners Inc purchased a new stake in CSX in the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the 1st quarter worth about $29,000. Finally, Fortis Capital Advisors LLC purchased a new stake in CSX in the 4th quarter worth about $27,000. 73.57% of the stock is currently owned by 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.