Robert W. Baird Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price objective decreased by investment analysts at Robert W. Baird from $39.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s target price suggests a potential upside of 16.24% from the company’s current price.

Several other research firms have also issued reports on CSX. BMO Capital Markets dropped their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Barclays cut their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Loop Capital lowered their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stephens cut their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Susquehanna reduced their target price on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Trading Down 2.9 %

Shares of NASDAQ:CSX opened at $32.69 on Friday. The firm has a market cap 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 12 month low of $31.43 and a 12 month high of $40.12. The company’s fifty day simple moving average is $33.53 and its 200 day simple moving average is $33.94. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, research analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On CSX

Several hedge funds have recently bought and sold shares of the company. Valley Wealth Managers Inc. lifted its holdings in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in CSX during the 3rd quarter worth approximately $31,000. Addison Advisors LLC lifted its stake in CSX by 348.5% in the 3rd 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 CSX by 43.4% in the third quarter. Fortitude Family Office LLC now owns 1,110 shares of the transportation company’s stock valued at $38,000 after buying an additional 336 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of CSX during the fourth quarter worth $41,000. 73.57% of the stock is 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.