CSX (NASDAQ:CSX) PT Raised to $82.00 at Credit Suisse Group

CSX (NASDAQ:CSX) had its price target boosted by Credit Suisse Group from $79.00 to $82.00 in a research note released on Thursday, October 17th, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the transportation company’s stock.

A number of other research firms have also issued reports on CSX. TD Securities upped their target price on shares of CSX from $76.00 to $77.00 and gave the company a hold rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their target price on shares of CSX to $75.00 and set a sector perform rating on the stock in a report on Wednesday, July 17th. Raymond James reduced their target price on shares of CSX from $81.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, October 17th. BidaskClub upgraded shares of CSX from a sell rating to a hold rating in a report on Thursday, September 12th. Finally, Loop Capital lowered shares of CSX from a buy rating to a hold rating and reduced their target price for the company from $85.00 to $81.00 in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $77.98.

CSX stock traded down $0.05 during midday trading on Thursday, hitting $74.03. 2,258,800 shares of the stock traded hands, compared to its average volume of 4,946,240. The firm has a market cap of $57.80 billion, a P/E ratio of 19.28, a PEG ratio of 1.38 and a beta of 1.22. CSX has a 1-year low of $58.47 and a 1-year high of $80.73. The stock’s fifty day simple moving average is $69.73 and its 200-day simple moving average is $72.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.33.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.06. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. CSX had a net margin of 27.91% and a return on equity of 27.67%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. On average, research analysts predict that CSX will post 4.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, November 27th. CSX’s dividend payout ratio (DPR) is presently 25.00%.

In other CSX news, Director Ridge Lp Mantle sold 3,453,894 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $67.91, for a total value of $234,553,941.54. Following the sale, the director now directly owns 8,263 shares in the company, valued at $561,140.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Halverson sold 39,812 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total value of $2,852,529.80. The disclosure for this sale can be found here. Company insiders own 4.83% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers raised its stake in shares of CSX by 16.0% during the third quarter. Cetera Investment Advisers now owns 10,238 shares of the transportation company’s stock valued at $709,000 after purchasing an additional 1,414 shares in the last quarter. Tiedemann Advisors LLC raised its stake in shares of CSX by 3.2% during the third quarter. Tiedemann Advisors LLC now owns 4,839 shares of the transportation company’s stock valued at $334,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of CSX by 4.2% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 30,395 shares of the transportation company’s stock valued at $2,105,000 after purchasing an additional 1,238 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of CSX by 295.7% during the third quarter. Great Lakes Advisors LLC now owns 40,746 shares of the transportation company’s stock valued at $2,822,000 after purchasing an additional 30,449 shares in the last quarter. Finally, Permanens Capital L.P. raised its stake in shares of CSX by 3.3% during the third quarter. Permanens Capital L.P. now owns 55,000 shares of the transportation company’s stock valued at $3,810,000 after purchasing an additional 1,775 shares in the last quarter. Institutional investors own 77.80% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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