CSX (NASDAQ:CSX) Target Price Reduced to $40.00

On October 19, 2024, analysts at Susquehanna lowered their target price for CSX (NASDAQ:CSX) from $42.00 to $40.00 in a report made available to investors. Currently, the brokerage maintains a "positive" rating on the transportation company's stock. The new price target suggests a potential upside of 17.23% based on the stock's current trading price.

Additional research firms have also recently evaluated CSX's stock. Barclays has reduced their target price from $41.00 to $40.00 while retaining an "overweight" rating. This change was noted in their report dated September 25. Meanwhile, Loop Capital adjusted their target price from $43.00 to $42.00 and kept a "buy" rating for CSX. Citigroup initiated coverage on CSX on October 9, setting a "buy" rating with a price objective of $42.00. On the other hand, Evercore ISI decreased their target from $38.00 to $37.00 while rating CSX as "outperform." Finally, Stephens reaffirmed an "overweight" rating with a price target of $42.00 in their report from August 6. In total, seven analysts have rated the stock as a hold, and twelve have given it a buy rating. MarketBeat.com indicates a consensus rating of "Moderate Buy" with a current average price target of $38.61.

CSX Stock Performance Overview

On Thursday, CSX's stock opened at $34.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16, and a quick ratio of 1.01. Over the past year, CSX has experienced a low of $29.03 and a high of $40.12. The stock's 50-day simple moving average stands at $34.02, while its 200-day simple moving average is recorded at $33.97. With a market capitalization of $66.70 billion, CSX has a price-to-earnings ratio of 18.75, a PEG ratio of 1.90, and a beta of 1.19.

Recently, CSX also reported their earnings on October 16. They provided earnings per share (EPS) of $0.46 for the quarter, slightly missing the consensus estimate of $0.48 by $0.02. The revenue achieved was $3.62 billion, which was below the anticipated $3.68 billion. The company noted a net margin of 24.52% and a return on equity of 29.11%. Compared to the same quarter last year, CSX's revenue saw a modest increase of 1.3%. In the previous year, they reported an EPS of $0.42. Analysts project that CSX will deliver an EPS of 1.93 for the current fiscal year.

Institutional Investors and CSX

In recent months, several hedge funds and institutional investors have modified their holdings in CSX. Itau Unibanco Holding S.A. acquired a new stake valued at approximately $26,000 in the second quarter. Financial Synergies Wealth Advisors Inc. also made an initial investment in CSX worth $29,000 during the first quarter. Additionally, MFA Wealth Advisors LLC purchased a new stake for $27,000 in the second quarter, while Fairscale Capital LLC acquired a new stake valued at $32,000. Notably, Valued Wealth Advisors LLC increased its share in CSX by 172.7% in the first quarter, resulting in ownership of 938 shares valued at $35,000 after acquiring 594 additional shares in the last quarter. Currently, institutional investors and hedge funds hold 73.57% of CSX's stock.

About CSX Corporation

CSX Corporation provides rail-based freight transportation services through its various subsidiaries. The company primarily offers rail freight services and the transportation of intermodal containers and trailers. Additionally, CSX conducts rail-to-truck transfers and bulk commodity operations. Their transportation services include delivering agricultural products, chemicals, metals, automobiles, and more. They facilitate shipping to electric power plants, industrial manufacturers, and coal exports to deep-water ports.

CSX, stocks, investment