Wells Fargo & Company Cuts CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its price objective reduced by Wells Fargo & Company from $36.00 to $34.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Stephens reiterated an “overweight” rating and set a $38.00 price objective on shares of CSX in a research note on Friday. Finally, Barclays lowered their target price on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.68.

CSX Stock Down 2.9 %

CSX opened at $32.69 on Friday. The company has a market cap 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. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX has a 1 year low of $31.43 and a 1 year high of $40.12. The firm has a 50 day moving average price of $33.53 and a 200 day moving average price of $33.95.

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

Institutional Trading of CSX

Hedge funds have recently made changes to their positions in the stock. Public Sector Pension Investment Board grew its position 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 last quarter. Squarepoint Ops LLC increased its position in CSX by 300.9% in the 2nd quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock valued at $18,007,000 after acquiring an additional 404,037 shares during the period. AlTi Global Inc. raised its stake in CSX by 5.2% during the 2nd quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock valued at $230,000 after acquiring an additional 342 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in CSX by 9.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock worth $1,092,000 after acquiring an additional 2,860 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of CSX in the second quarter worth $221,000. 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.