CSX (NASDAQ:CSX) Downgraded by StockNews.com

Posted by on May 17th, 2023

CSX (NASDAQ:CSX – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

CSX has been the subject of a number of other reports. Citigroup raised their price objective on shares of CSX from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, April 21st. Stifel Nicolaus lifted their target price on shares of CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Stephens lifted their target price on shares of CSX from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, April 21st. Evercore ISI lifted their target price on shares of CSX from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Finally, TD Cowen lifted their price target on shares of CSX from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, April 21st. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

CSX Stock Performance

Shares of CSX stock opened at $31.68 on Wednesday. The stock’s 50-day moving average is $30.24 and its two-hundred day moving average is $30.92. The firm has a market cap of $64.41 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.24 and a beta of 1.23. CSX has a 1 year low of $25.80 and a 1 year high of $34.71. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.28 and a current ratio of 1.45.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.05. CSX had a return on equity of 33.01% and a net margin of 28.35%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that CSX will post 1.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CSX. Thompson Investment Management Inc. acquired a new position in shares of CSX during the 1st quarter worth $25,000. Kalos Management Inc. acquired a new position in CSX in the 1st quarter valued at $25,000. WFA of San Diego LLC acquired a new position in CSX in the 4th quarter valued at $26,000. TimeScale Financial Inc. grew its stake in CSX by 1,391.8% in the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after buying an additional 849 shares during the last quarter. Finally, Fortis Capital Advisors LLC acquired a new position in CSX in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

About CSX

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

Further Reading

Analyst Recommendations for CSX (NASDAQ:CSX)

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