CSX (NASDAQ:CSX) Price Target Lowered to $38.00 at Barclays

CSX (NASDAQ:CSX) had its price objective dropped by research analysts at Barclays from $40.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price points to a potential upside of 16.24% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Susquehanna dropped their price objective on shares of CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI decreased their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company lowered their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price objective on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.68.

CSX Stock Performance

Shares of CSX stock opened at $32.69 on Friday. The stock has a market capitalization of $63.04 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. CSX has a one year low of $31.43 and a one year high of $40.12. The company’s 50-day simple moving average is $33.53 and its 200-day simple moving average is $33.94. 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 (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. Equities analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Large investors have recently made changes to their positions in the business. Valley Wealth Managers Inc. lifted its position in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of CSX during the third quarter worth $31,000. Addison Advisors LLC lifted its holdings in shares of CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of CSX by 43.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 336 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in CSX in the 4th quarter worth about $41,000. Institutional investors own 73.57% of the company’s stock.

About CSX

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.