Wells Fargo & Company Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price decreased by investment analysts at Wells Fargo & Company from $34.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.49% from the stock’s current price.

Other research analysts also recently issued reports about the company. Citigroup lowered their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Susquehanna lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Robert W. Baird cut their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $36.75.

CSX Stock Down 2.7 %

NASDAQ:CSX opened at $29.11 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market cap of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. CSX has a fifty-two week low of $28.98 and a fifty-two week high of $37.10. The firm has a 50-day simple moving average of $31.75 and a two-hundred day simple moving average of $33.20.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of CSX in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter worth about $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX during the fourth quarter worth about $33,000. 73.57% of the stock is currently owned by institutional investors.

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.