CSX (NASDAQ:CSX) Price Target Cut to $31.00 by Analysts at Wells Fargo & Company

CSX (NASDAQ:CSX) had its target price reduced by analysts at Wells Fargo & Company from $34.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 3.68% from the stock’s previous close.

A number of other research firms also recently commented on CSX. Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. 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. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Raymond James reiterated an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.85.

CSX Price Performance

NASDAQ:CSX opened at $29.90 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX has a 1-year low of $28.98 and a 1-year high of $37.18. The firm has a market cap of $56.65 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a 50 day moving average price of $31.88 and a 200-day moving average price of $33.26.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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%. Equities research analysts forecast that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group raised its holdings in shares of CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares during the last quarter. West Branch Capital LLC grew its stake in shares of CSX by 3.3% during the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after acquiring an additional 332 shares in the last quarter. Finally, Alhambra Investment Management LLC increased its position in shares of CSX by 4.3% during the fourth quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock worth $268,000 after acquiring an additional 342 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.