JPMorgan Chase & Co. Cuts CSX (NASDAQ:CSX) Price Target to $37.00

CSX (NASDAQ:CSX) had its target price trimmed by JPMorgan Chase & Co. from $38.00 to $37.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, January 10th. Stephens reaffirmed an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday. Loop Capital reduced their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Susquehanna lowered their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays cut their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.68.

CSX Trading Down 2.9 %

NASDAQ:CSX opened at $32.69 on Friday. CSX has a 12 month low of $31.43 and a 12 month high of $40.12. The business’s 50-day moving average is $33.53 and its two-hundred day moving average is $33.95. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a market capitalization of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last announced its earnings results 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 predict that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSX. Perpetual Ltd acquired a new position in CSX during the fourth quarter worth $83,301,000. Assenagon Asset Management S.A. boosted its stake in shares of CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after acquiring an additional 2,489,329 shares in the last quarter. FMR LLC increased its holdings in shares of CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of CSX by 275.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock valued at $62,019,000 after acquiring an additional 1,360,075 shares in the last quarter. Finally, KBC Group NV lifted its holdings in CSX by 616.4% in the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock worth $35,966,000 after purchasing an additional 958,957 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.