Citigroup Initiates Coverage on CSX (NASDAQ:CSX)

Stock analysts at Citigroup assumed coverage on shares of CSX (NASDAQ:CSX) in a research note issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $42.00 price target on the transportation company’s stock. Citigroup’s price objective suggests a potential upside of 24.00% from the stock’s previous close.

A number of other equities analysts also recently commented on CSX. Barclays cut their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $40.00 target price on shares of CSX in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.19.

CSX Stock Up 0.7 %

Shares of NASDAQ:CSX opened at $33.87 on Wednesday. The stock’s 50-day moving average price is $33.93 and its two-hundred day moving average price is $34.05. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market cap of $66.21 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.91 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company earned $0.49 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts forecast that CSX will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of CSX in the second quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX in the 1st quarter worth about $29,000. Fairscale Capital LLC acquired a new position in CSX in the 2nd quarter worth about $32,000. Finally, Strategic Financial Concepts LLC acquired a new position in CSX in the 2nd quarter worth about $33,000. 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.