CSX (NASDAQ:CSX) Earns Outperform Rating from Raymond James

CSX (NASDAQ:CSX)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James in a report released on Friday,Benzinga reports. They currently have a $37.00 price objective on the transportation company’s stock, down from their previous price objective of $38.00. Raymond James’ price objective would suggest a potential upside of 13.18% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CSX. Barclays reduced their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Robert W. Baird reduced 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. Finally, BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Stock Performance

Shares of 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 stock has a 50 day moving average of $33.53 and a 200-day moving average of $33.94. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization 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 (NASDAQ:CSX) last released 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%. As a group, equities research analysts predict that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after buying an additional 455,258 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CSX by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after acquiring an additional 190,346 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of CSX by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares in the last quarter. FMR LLC grew its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CSX by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock worth $440,118,000 after purchasing an additional 737,221 shares in the last quarter. Institutional investors and hedge funds 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.