CSX (NASDAQ:CSX) Downgraded to "Market Perform" Rating by BMO Capital Markets

CSX (NASDAQ:CSX - Get Free Report) was downgraded by analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $38.00 price objective on the transportation company's stock. BMO Capital Markets' price objective indicates a potential upside of 5.83% from the company's previous close.

Several other analysts have also weighed in on CSX. Baird R W upgraded shares of CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Raymond James Financial boosted their price target on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Susquehanna restated a "neutral" rating and issued a $35.00 target price on shares of CSX in a report on Tuesday, June 24th. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and lifted their price target for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, Citigroup upped their target price on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average target price of $37.00.

View Our Latest Report on CSX

CSX Trading Down 1.1%

CSX stock traded down $0.42 during mid-day trading on Monday, hitting $35.91. 13,141,839 shares of the stock were exchanged, compared to its average volume of 16,076,484. The stock has a market capitalization of $66.94 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 2.71 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX has a 12 month low of $26.22 and a 12 month high of $37.10. The firm's fifty day simple moving average is $33.98 and its two-hundred day simple moving average is $31.55.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Analysts forecast that CSX will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Associated Banc Corp increased its holdings in shares of CSX by 0.9% in the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after purchasing an additional 356 shares during the period. Portside Wealth Group LLC raised its position in CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after acquiring an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC raised its position in CSX by 1.3% in the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after acquiring an additional 363 shares in the last quarter. LRI Investments LLC raised its position in CSX by 4.8% in the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock worth $243,000 after acquiring an additional 375 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in CSX by 1.2% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Company Profile

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.

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