CSX (NASDAQ:CSX) Stock Rating Lowered by BMO Capital Markets

CSX (NASDAQ:CSX) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $38.00 price objective on the transportation company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 4.63% from the stock’s current price.

Several other analysts also recently issued reports on CSX. Wells Fargo & Company upped their price objective on CSX from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Argus set a $32.00 price objective on shares of CSX in a research report on Friday, April 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of CSX in a research note on Thursday, July 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Finally, Robert W. Baird raised their target price on shares of CSX from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Trading Down 0.1%

Shares of CSX stock opened at $36.32 on Monday. The business’s fifty day moving average price is $33.98 and its 200 day moving average price is $31.55. The firm has a market capitalization of $67.71 billion, a PE ratio of 22.42, a P/E/G ratio of 2.71 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX has a 1-year low of $26.22 and a 1-year high of $37.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during 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 business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. As a group, sell-side analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC raised its holdings in CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock worth $368,000 after purchasing an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock valued at $1,141,000 after purchasing an additional 3,458 shares during the period. Farther Finance Advisors LLC raised its stake in shares of CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock worth $418,000 after buying an additional 5,382 shares in the last quarter. Cercano Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at $4,869,000. Finally, GAMMA Investing LLC lifted its holdings in shares of CSX by 23.2% in the first quarter. GAMMA Investing LLC now owns 35,910 shares of the transportation company’s stock valued at $1,057,000 after buying an additional 6,766 shares during the period. 73.57% of the stock is 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.