Citigroup Cuts CSX (NASDAQ:CSX) Price Target to $39.00

CSX (NASDAQ:CSX) had its price target reduced by Citigroup from $40.00 to $39.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CSX has been the topic of several other research reports. Loop Capital decreased their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Robert W. Baird decreased their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, TD Cowen dropped their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Stock Down 2.9 %

Shares of NASDAQ CSX opened at $32.69 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market cap 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 52 week low of $31.43 and a 52 week high of $40.12. The business has a 50-day simple moving average of $33.53 and a two-hundred day simple moving average of $33.95.

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

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board increased its stake in CSX by 69.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock worth $2,495,000 after purchasing an additional 30,531 shares during the period. Squarepoint Ops LLC grew its holdings in shares of CSX by 300.9% in the second quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock worth $18,007,000 after purchasing an additional 404,037 shares during the last quarter. AlTi Global Inc. grew its holdings in shares of CSX by 5.2% in the second quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock worth $230,000 after purchasing an additional 342 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of CSX by 9.6% in the second quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock worth $1,092,000 after buying an additional 2,860 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in CSX during the 2nd quarter valued at $221,000. Institutional investors own 73.57% of the company’s stock.

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.