CSX (CSX) Cut to Sell at BidaskClub

BidaskClub cut shares of CSX (NASDAQ:CSX) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

CSX has been the subject of a number of other reports. Robert W. Baird reiterated a buy rating and set a $59.00 target price on shares of CSX in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of CSX from a sell rating to a hold rating in a research note on Thursday, October 12th. TD Securities lowered shares of CSX from a buy rating to a hold rating and decreased their target price for the company from $63.00 to $54.00 in a research note on Monday, December 18th. Morgan Stanley set a $51.00 target price on shares of CSX and gave the company a sell rating in a research note on Wednesday, January 17th. Finally, Credit Suisse Group upped their price objective on CSX from $60.00 to $61.00 and gave the stock an outperform rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $60.38.

Shares of CSX (NASDAQ:CSX) opened at $51.00 on Monday. The firm has a market cap of $49,378.20, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.01. CSX has a 12 month low of $45.41 and a 12 month high of $60.04.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 17.16%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. equities research analysts predict that CSX will post 3.07 earnings per share for the current year.

CSX declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, Director Gary Keith Anderson bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average price of $2,300.00 per share, with a total value of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.

A number of institutional investors have recently modified their holdings of CSX. First Command Financial Services Inc. boosted its holdings in CSX by 130.0% in the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after buying an additional 1,200 shares during the period. Front Row Advisors LLC bought a new position in CSX in the 4th quarter worth $135,000. Valeo Financial Advisors LLC bought a new position in CSX in the 3rd quarter worth $196,000. St. Louis Trust Co bought a new position in CSX in the 4th quarter worth $209,000. Finally, Laurel Wealth Advisors Inc. bought a new position in CSX in the 2nd quarter worth $226,000. 69.94% of the stock is owned by institutional investors.

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About CSX

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

Analyst Recommendations for CSX (NASDAQ:CSX)

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