CSX (NASDAQ:CSX) Price Target Cut to $31.00 by Analysts at Wells Fargo & Company

CSX (NASDAQ:CSX) had its price objective dropped by stock analysts at Wells Fargo & Company from $34.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.49% from the stock’s previous close.

CSX has been the subject of a number of other reports. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of CSX in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price on the stock. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $34.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Susquehanna decreased their price objective on CSX from $40.00 to $39.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

CSX Stock Down 2.7 %

CSX opened at $29.11 on Thursday. The company has a market capitalization of $54.86 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm has a 50-day simple moving average of $31.75 and a two-hundred day simple moving average of $33.20. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX has a 52 week low of $28.98 and a 52 week high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly 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 net margin of 23.95% and a return on equity of 28.15%. Analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after acquiring an additional 15,029 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of CSX in the fourth quarter valued at approximately $308,000. 111 Capital bought a new position in CSX in the fourth quarter worth approximately $630,000. Wealth Enhancement Advisory Services LLC grew its stake in CSX by 9.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 945,319 shares of the transportation company’s stock worth $30,505,000 after purchasing an additional 78,282 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in CSX during the 4th quarter worth $117,133,000. Hedge funds and other 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.