CSX (CSX) Lowered to Sell at BidaskClub

BidaskClub downgraded shares of CSX (NASDAQ:CSX) from a hold rating to a sell rating in a report released on Monday.

Several other equities analysts have also recently issued reports on CSX. Scotiabank set a $63.00 price objective on CSX and gave the stock a hold rating in a report on Wednesday, January 17th. Cowen reaffirmed a market perform rating and set a $61.00 price objective (up from $54.00) on shares of CSX in a report on Wednesday, January 17th. Citigroup reaffirmed a buy rating and set a $64.00 price objective on shares of CSX in a report on Wednesday, January 17th. Morgan Stanley set a $51.00 price target on CSX and gave the stock a sell rating in a research report on Wednesday, January 17th. Finally, Barclays raised their price target on CSX from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $60.38.

CSX (NASDAQ CSX) opened at $52.97 on Monday. The stock has a market capitalization of $48,100.18, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.32 and a beta of 1.26. CSX has a 1-year low of $45.41 and a 1-year high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. CSX’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. analysts predict that CSX will post 3.07 EPS for the current year.

CSX announced that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the stock in a transaction dated Friday, November 24th. The stock was acquired at an average price of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Oakbrook Investments LLC grew its position in CSX by 8.5% during the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 5,500 shares during the period. Canada Pension Plan Investment Board grew its position in CSX by 12.0% during the third quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock valued at $30,650,000 after acquiring an additional 60,300 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in CSX during the third quarter valued at about $633,000. South State Corp grew its position in CSX by 36.3% during the third quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after acquiring an additional 6,239 shares during the period. Finally, Piedmont Investment Advisors LLC grew its position in CSX by 12.9% during the second quarter. Piedmont Investment Advisors LLC now owns 228,522 shares of the transportation company’s stock valued at $12,468,000 after acquiring an additional 26,057 shares during the period. 69.94% of the stock is owned by institutional investors and hedge funds.

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About CSX

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.

Analyst Recommendations for CSX (NASDAQ:CSX)

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