CSX (NASDAQ:CSX) Price Target Lowered to $39.00 at Susquehanna

CSX (NASDAQ:CSX) had its price objective decreased by Susquehanna from $40.00 to $39.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

A number of other brokerages have also weighed in on CSX. Wells Fargo & Company cut their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. TD Cowen lowered their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Evercore ISI reduced their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Stephens cut their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.72.

CSX Price Performance

NASDAQ CSX opened at $32.20 on Wednesday. The company has a market cap of $62.10 billion, a PE ratio of 17.31, a P/E/G ratio of 2.24 and a beta of 1.22. CSX has a 52-week low of $31.43 and a 52-week high of $40.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm’s 50 day moving average price is $34.15 and its 200-day moving average price is $34.00.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that CSX will post 1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

A number of hedge funds and other institutional investors have recently modified their holdings of the company. InvesTrust acquired a new position in shares of CSX in the 4th quarter valued at $579,000. Fulton Bank N.A. grew its position in CSX by 1.2% during the 4th quarter. Fulton Bank N.A. now owns 30,505 shares of the transportation company’s stock worth $984,000 after purchasing an additional 349 shares during the last quarter. Diversified Trust Co increased its stake in CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares during the period. Nordea Investment Management AB raised its holdings in shares of CSX by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 2,342,834 shares of the transportation company’s stock valued at $75,603,000 after buying an additional 570,683 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of CSX by 99.1% during the fourth quarter. Versant Capital Management Inc now owns 3,028 shares of the transportation company’s stock worth $98,000 after buying an additional 1,507 shares during the period. 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.