CSX (NASDAQ:CSX) Rating Lowered to Hold at Loop Capital

CSX (NASDAQ:CSX) was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $34.00 price objective on the transportation company’s stock, down from their prior price objective of $40.00. Loop Capital’s price target would indicate a potential upside of 3.44% from the company’s current price.

CSX has been the topic of several other reports. Raymond James restated an “outperform” rating and set a $37.00 target price (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Robert W. Baird cut their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their price objective on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $37.16.

CSX Stock Performance

Shares of CSX stock opened at $32.87 on Monday. The company’s 50 day moving average is $33.25 and its 200 day moving average is $33.89. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $63.39 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.90 and a beta of 1.23. CSX has a 52-week low of $31.43 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly 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 return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts anticipate that CSX will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

Several institutional investors and hedge funds have recently modified their holdings of CSX. Valley Wealth Managers Inc. lifted its holdings in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the 3rd quarter worth about $31,000. Sierra Ocean LLC purchased a new position in CSX in the 4th quarter valued at about $33,000. Addison Advisors LLC boosted its holdings in CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock worth $36,000 after buying an additional 812 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its stake in CSX by 205.7% during the 4th quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares in 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.