Bank of America Downgrades CSX (NASDAQ:CSX) to Neutral

CSX (NASDAQ:CSX – Download Free Report) Equity analysts at Bank of America downgraded the company’s shares from “buy” to “neutral” in a research note issued on Monday, FinViz reports.

Several other analysts have also commented on CSX. Susquehanna lowered their price objective for CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25. Jefferies Financial Group lowered their price objective for shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18. Stifel Nicolaus raised their price objective for shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, April 12. Wells Fargo & Company assumed coverage on shares of CSX in a research note on Friday, June 7. They set an “equal weight” rating and a $35.00 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18. Seven equities analysts have rated the stock a “hold” and eleven have given the stock a “buy” rating. The company currently has a consensus rating of “Moderate Buy” and an average price target of $37.59, according to data from MarketBeat.com.

Read our latest research report on CSX

CSX trading down 0.7%

Shares of CSX opened at $33.30 on Monday. The company has a 50-day average price of $33.40 and a two-hundred-day average price of $35.11. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a market capitalization of $65.10 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.72 and a beta of 1.20. The company has a current ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX – Get Free Report) last released its quarterly financial results on Wednesday, April 17. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue for the quarter was down 0.8% from the same quarter last year. During the same quarter last year, the company reported $0.48 earnings per share. Sell-side analysts expect CSX to report earnings per share of $1.96 for the current year.

Institutional investors rate CSX

A number of large investors have recently added to or reduced their holdings in the stock. Miracle Mile Advisors LLC increased its position in CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after acquiring an additional 303 shares in the last quarter. High Net Worth Advisory Group LLC increased its holdings in CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after acquiring an additional 304 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares during the period. Team Hewins LLC increased its holdings in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. increased its position in shares of CSX by 0.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

(Download the free report)

CSX Corporation, together with its subsidiaries, provides freight transportation services by rail. The company offers rail services; intermodal container and trailer transportation; and other transportation services such as rail-to-truck transfers and bulk operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, metals, and equipment; and coal, coke, and iron ore to power plants, steelmakers, and industrial plants, and exports coal to deepwater port facilities.

read more

Get daily news and ratings for CSX – Enter your email address below to receive a concise summary of the latest news and analyst ratings for CSX and related companies in MarketBeat.com’s FREE daily newsletter.