JPMorgan Chase & Co. Lowers CSX (NASDAQ:CSX) Price Target to $37.00

CSX (NASDAQ:CSX) had its price objective trimmed by JPMorgan Chase & Co. from $38.00 to $37.00 in a research note published on Friday,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

A number of other research analysts have also weighed in on CSX. Evercore ISI cut their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada reduced their target price on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company dropped their price target on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup reduced their price objective on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday. Finally, Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.68.

CSX Price Performance

CSX stock opened at $32.69 on Friday. The firm has a market capitalization of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. The business has a 50-day moving average of $33.53 and a 200-day moving average of $33.95. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a 1 year low of $31.43 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. On average, equities analysts anticipate that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

A number of institutional investors have recently bought and sold shares of CSX. Mirae Asset Global Investments Co. Ltd. lifted its position in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after purchasing an additional 80,423 shares during the period. Diversified Trust Co lifted its holdings in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after acquiring an additional 46,473 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after acquiring an additional 24,430 shares during the period. Carnegie Investment Counsel increased its stake in CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after acquiring an additional 77,488 shares during the last quarter. 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.