Bank of America Downgrades CSX (NASDAQ:CSX) to Neutral

CSX (NASDAQ:CSX) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $37.00 target price on the transportation company’s stock. Bank of America‘s target price suggests a potential upside of 13.92% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Susquehanna reduced their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group lowered their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.39.

CSX Trading Down 2.7 %

NASDAQ CSX opened at $32.48 on Monday. The stock has a market capitalization of $63.50 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.72 and a beta of 1.20. The business has a 50 day simple moving average of $33.37 and a 200 day simple moving average of $35.09. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. Research analysts expect that CSX will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC grew its holdings in shares of CSX by 13.2% in the second quarter. Park Avenue Securities LLC now owns 86,355 shares of the transportation company’s stock worth $2,889,000 after purchasing an additional 10,099 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in CSX by 6.5% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 14,699 shares of the transportation company’s stock worth $492,000 after acquiring an additional 901 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in CSX by 23.5% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 16,795 shares of the transportation company’s stock worth $562,000 after acquiring an additional 3,191 shares during the last quarter. Value Partners Investments Inc. raised its stake in shares of CSX by 21.7% during the second quarter. Value Partners Investments Inc. now owns 54,363 shares of the transportation company’s stock valued at $1,818,000 after acquiring an additional 9,694 shares during the last quarter. Finally, Sage Capital Advisors llc raised its stake in shares of CSX by 1.9% during the second quarter. Sage Capital Advisors llc now owns 113,642 shares of the transportation company’s stock valued at $3,801,000 after acquiring an additional 2,107 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

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.