Stephens Reaffirms “Overweight” Rating for CSX (NASDAQ:CSX)

CSX (NASDAQ:CSX)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a report issued on Friday,Benzinga reports. They presently have a $38.00 price target on the transportation company’s stock. Stephens’ price target indicates a potential upside of 16.24% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CSX. Evercore ISI lowered their target price on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Barclays cut their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report 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 objective on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets lowered their target price on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

CSX Price Performance

CSX opened at $32.69 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The business has a fifty day moving average of $33.53 and a 200 day moving average of $33.94. CSX has a 52-week low of $31.43 and a 52-week high of $40.12. The stock has a market cap of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that CSX will post 1.83 EPS for the current year.

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Sector Pension Investment Board increased its holdings in shares of CSX by 69.3% in the second quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock valued at $2,495,000 after purchasing an additional 30,531 shares during the period. Squarepoint Ops LLC boosted its position in CSX by 300.9% in the second quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock valued at $18,007,000 after buying an additional 404,037 shares during the last quarter. AlTi Global Inc. raised its position in CSX by 5.2% during the 2nd quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock worth $230,000 after buying an additional 342 shares during the last quarter. Daymark Wealth Partners LLC raised its position in CSX by 9.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock worth $1,092,000 after buying an additional 2,860 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of CSX in the 2nd quarter valued at $221,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.