Raymond James Cuts CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its target price dropped by investment analysts at Raymond James from $37.00 to $34.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target would suggest a potential upside of 22.21% from the company’s previous close.

Other research analysts have also issued research reports about the company. Royal Bank of Canada cut their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. UBS Group cut their target price on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Benchmark restated a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

CSX Price Performance

Shares of NASDAQ:CSX opened at $27.82 on Friday. The company has a 50 day moving average of $30.68 and a 200 day moving average of $32.76. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $52.43 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.92 and a beta of 1.23. CSX has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. As a group, sell-side analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of CSX in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in CSX during the 4th quarter valued at about $31,000. Finally, Sierra Ocean LLC bought a new position in CSX during the 4th quarter valued at approximately $33,000. Institutional investors own 73.57% of the company’s stock.

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.