CSX (NASDAQ:CSX) Given New $40.00 Price Target at Bank of America

CSX (NASDAQ:CSX - Get Free Report) had its price objective decreased by stock analysts at Bank of America from $42.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Bank of America's price target indicates a potential upside of 17.41% from the stock's current price.

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Several other analysts have also weighed in on CSX. Raymond James Financial lifted their price objective 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. Citigroup boosted their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. BMO Capital Markets lowered shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price target for the company. in a research note on Monday, August 18th. Wall Street Zen lowered shares of CSX from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.32.

Check Out Our Latest Stock Analysis on CSX

CSX Price Performance

• This Railroad Stock Is Chugging Along to a New All-Time High

CSX stock opened at $34.07 on Wednesday. The company has a fifty day moving average price of $34.19 and a 200-day moving average price of $31.71. The company has a market capitalization of $63.52 billion, a P/E ratio of 21.03, a PEG ratio of 2.48 and a beta of 1.25. CSX has a 52-week low of $26.22 and a 52-week high of $37.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

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

Hedge Funds Weigh In On CSX

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Several hedge funds and other institutional investors have recently bought and sold shares of CSX. Nuveen LLC purchased a new stake in shares of CSX during the 1st quarter valued at about $182,550,000. Bank of New York Mellon Corp increased its position in shares of CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of CSX by 1,283.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the last quarter. Amundi increased its holdings in CSX by 34.5% in the 1st quarter. Amundi now owns 13,017,397 shares of the transportation company's stock worth $364,357,000 after acquiring an additional 3,341,136 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in CSX by 12.5% in the 1st quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after acquiring an additional 2,599,518 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

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.

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