CSX (CSX) Downgraded by BidaskClub to “Hold”

CSX (NASDAQ:CSX) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research analysts also recently issued reports on CSX. Citigroup upped their price target on shares of CSX from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. ValuEngine raised CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Loop Capital raised CSX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $78.00 in a report on Wednesday, July 18th. UBS Group set a $82.00 price objective on CSX and gave the stock a “buy” rating in a report on Wednesday, July 18th. Finally, Royal Bank of Canada boosted their price objective on CSX from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. CSX currently has an average rating of “Buy” and a consensus target price of $77.55.

Shares of NASDAQ CSX opened at $68.65 on Friday. The stock has a market cap of $63.59 billion, a P/E ratio of 29.85, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. CSX has a 12-month low of $48.26 and a 12-month high of $76.24.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.05 billion. CSX had a net margin of 53.27% and a return on equity of 19.31%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, sell-side analysts forecast that CSX will post 3.61 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in CSX. Cubist Systematic Strategies LLC increased its stake in shares of CSX by 120.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 3,533 shares of the transportation company’s stock valued at $197,000 after acquiring an additional 1,933 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of CSX by 11.1% in the 1st quarter. Atlantic Trust Group LLC now owns 32,407 shares of the transportation company’s stock valued at $1,806,000 after acquiring an additional 3,236 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of CSX by 4,160.9% in the 1st quarter. Summit Trail Advisors LLC now owns 205,674 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 200,847 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of CSX by 4.5% in the 1st quarter. Suntrust Banks Inc. now owns 314,745 shares of the transportation company’s stock valued at $17,533,000 after acquiring an additional 13,638 shares during the last quarter. Finally, Private Vista LLC bought a new stake in shares of CSX in the 1st quarter valued at about $317,000. 74.62% of the stock is owned by institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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