UBS set a $68.00 price objective on CSX (NASDAQ:CSX) in a research note released on Sunday morning, www.tipranks.com reports. The firm currently has a buy rating on the transportation company’s stock.
A number of other research firms have also weighed in on CSX. BidaskClub raised shares of CSX from a sell rating to a hold rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of CSX from a sell rating to a hold rating in a research note on Friday, November 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $65.00 price objective on shares of CSX in a research note on Friday, August 11th. Morgan Stanley lowered shares of CSX from an equal weight rating to an underweight rating and dropped their price objective for the company from $44.00 to $43.00 in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $55.00 price objective (down from $57.00) on shares of CSX in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $56.95.
Shares of CSX (NASDAQ CSX) opened at $55.79 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. The company has a market cap of $50,933.28, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.75 and a beta of 1.35. CSX has a twelve month low of $35.59 and a twelve month high of $58.25.
CSX declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, November 29th. CSX’s payout ratio is currently 41.24%.
In other news, Director Gary Keith Anderson purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in CSX by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after buying an additional 285 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in CSX during the third quarter worth about $196,000. ARGI Investment Services LLC purchased a new stake in CSX during the second quarter worth about $208,000. BKS Advisors LLC purchased a new stake in CSX during the second quarter worth about $221,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in CSX during the second quarter worth about $226,000. Institutional investors and hedge funds own 70.24% of the company’s stock.
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CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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