CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reissued by Aegis in a research note issued on Tuesday. They presently have a $64.00 target price on the transportation company’s stock. Aegis’ price objective indicates a potential upside of 20.57% from the stock’s previous close.
Several other research firms have also recently weighed in on CSX. BidaskClub raised CSX Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price target on shares of CSX Corporation in a report on Friday, August 11th. ValuEngine cut CSX Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. UBS AG reissued a “buy” rating and set a $62.00 price target on shares of CSX Corporation in a report on Monday, August 14th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of CSX Corporation in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.09.
CSX Corporation (NASDAQ:CSX) opened at 53.08 on Tuesday. The stock’s 50 day moving average price is $51.69 and its 200-day moving average price is $51.34. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 27.76 and a beta of 1.35. CSX Corporation has a one year low of $30.01 and a one year high of $55.48.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts expect that CSX Corporation will post $2.22 EPS for the current fiscal year.
CSX Corporation announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Ridge Lp Mantle acquired 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.79% of the company’s stock.
A number of hedge funds have recently modified their holdings of CSX. Vanguard Group Inc. grew its position in shares of CSX Corporation by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock valued at $3,147,122,000 after buying an additional 303,834 shares during the last quarter. Janus Capital Management LLC grew its position in shares of CSX Corporation by 32.9% in the 1st quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock valued at $773,686,000 after buying an additional 4,114,395 shares during the last quarter. Geode Capital Management LLC grew its position in shares of CSX Corporation by 7.6% in the 1st quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock valued at $426,540,000 after buying an additional 648,154 shares during the last quarter. Brahman Capital Corp. bought a new stake in shares of CSX Corporation in the 1st quarter valued at about $257,229,000. Finally, Eaton Vance Management grew its position in shares of CSX Corporation by 6.9% in the 2nd quarter. Eaton Vance Management now owns 5,126,177 shares of the transportation company’s stock valued at $279,684,000 after buying an additional 333,005 shares during the last quarter. Institutional investors and hedge funds own 69.83% of the company’s stock.
About CSX Corporation
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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