CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reiterated by equities research analysts at UBS AG in a note issued to investors on Monday, www.flashratings.com reports. They currently have a $62.00 price target on the transportation company’s stock. UBS AG’s price objective would indicate a potential upside of 21.26% from the stock’s previous close.
Several other equities analysts have also issued reports on CSX. BidaskClub raised CSX Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price target on shares of CSX Corporation in a research note on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating on shares of CSX Corporation in a research note on Wednesday, August 2nd. Loop Capital reissued a “hold” rating and issued a $54.00 price target (up from $52.00) on shares of CSX Corporation in a research note on Saturday, July 22nd. Finally, Cowen and Company reissued a “hold” rating and issued a $54.00 price target on shares of CSX Corporation in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $53.71.
Shares of CSX Corporation (CSX) opened at 51.13 on Monday. The firm’s 50-day moving average is $52.12 and its 200 day moving average is $50.30. The firm has a market capitalization of $46.70 billion, a P/E ratio of 26.74 and a beta of 1.30. CSX Corporation has a one year low of $27.82 and a one year high of $55.48.
CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that CSX Corporation will post $2.30 earnings per share for the current year.
CSX Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the transportation company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other CSX Corporation news, Director Ridge Lp Mantle acquired 1,357,000 shares of CSX Corporation stock in a transaction on Friday, July 21st. The stock was purchased at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the purchase, the director now directly owns 106 shares of the company’s stock, valued at $5,468.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.79% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CSX. MCF Advisors LLC increased its position in shares of CSX Corporation by 0.3% in the first quarter. MCF Advisors LLC now owns 2,832 shares of the transportation company’s stock worth $132,000 after buying an additional 9 shares during the period. Gamble Jones Investment Counsel increased its position in shares of CSX Corporation by 0.3% in the first quarter. Gamble Jones Investment Counsel now owns 7,578 shares of the transportation company’s stock worth $353,000 after buying an additional 21 shares during the period. Westwood Holdings Group Inc. increased its position in shares of CSX Corporation by 0.7% in the first quarter. Westwood Holdings Group Inc. now owns 7,549 shares of the transportation company’s stock worth $351,000 after buying an additional 49 shares during the period. Financial Architects Inc increased its position in shares of CSX Corporation by 1.9% in the first quarter. Financial Architects Inc now owns 2,650 shares of the transportation company’s stock worth $124,000 after buying an additional 50 shares during the period. Finally, Simmons Bank increased its position in shares of CSX Corporation by 0.8% in the first quarter. Simmons Bank now owns 12,633 shares of the transportation company’s stock worth $588,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.
CSX Corporation Company Profile
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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