BMO Capital Markets Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price objective trimmed by BMO Capital Markets from $40.00 to $38.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on CSX. Citigroup decreased their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stephens reiterated an “overweight” rating and issued a $38.00 target price on shares of CSX in a research report on Friday. Royal Bank of Canada decreased their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, Barclays dropped their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Price Performance

CSX stock opened at $32.69 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The company’s fifty day moving average price is $33.53 and its 200 day moving average price is $33.95. The stock has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.06 and a beta of 1.22. CSX has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. As a group, equities research analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CSX. State Street Corp grew its holdings in shares of CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares in the last quarter. Geode Capital Management LLC boosted its position in CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after buying an additional 190,346 shares during the period. Fisher Asset Management LLC grew its stake in shares of CSX by 3.6% in the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after acquiring an additional 857,302 shares in the last quarter. FMR LLC increased its position in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CSX by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after acquiring an additional 737,221 shares in the last quarter. 73.57% 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; 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.