Citigroup Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target reduced by research analysts at Citigroup from $39.00 to $36.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 25.61% from the company’s current price.

Several other analysts also recently issued reports on CSX. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, January 10th. Stephens restated an “overweight” rating and set a $38.00 target price on shares of CSX in a research note on Friday, January 24th. UBS Group reduced their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Finally, Raymond James reissued an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.85.

CSX Trading Up 7.4 %

Shares of CSX stock opened at $28.66 on Tuesday. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market cap of $54.02 billion, a PE ratio of 16.01, a P/E/G ratio of 1.92 and a beta of 1.23. The business’s fifty day moving average is $30.77 and its two-hundred day moving average is $32.80. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts anticipate that CSX will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On CSX

A number of large investors have recently modified their holdings of CSX. Diversified Trust Co raised its stake in shares of CSX by 180.7% during the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in shares of CSX during the fourth quarter worth approximately $1,084,000. Carnegie Investment Counsel raised its stake in shares of CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after buying an additional 8,474 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of CSX by 6.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after buying an additional 41,547 shares during the last quarter. Finally, Waycross Partners LLC raised its stake in shares of CSX by 7.0% during the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock worth $19,990,000 after buying an additional 40,611 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.