CSX (NASDAQ:CSX) Given New $37.00 Price Target at JPMorgan Chase & Co.

CSX (NASDAQ:CSX) had its price objective reduced by JPMorgan Chase & Co. from $38.00 to $37.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on CSX. BMO Capital Markets lowered their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada lowered their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Loop Capital lowered their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Barclays lowered their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

CSX Stock Performance

CSX stock opened at $32.69 on Friday. The company has a market cap of $63.04 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. CSX has a 1 year low of $31.43 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock’s fifty day moving average price is $33.58 and its 200-day moving average price is $33.95.

CSX (NASDAQ:CSX) last released its 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 net margin of 24.77% and a return on equity of 28.92%. On average, equities analysts forecast that CSX will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On CSX

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares during the last quarter. Geode Capital Management LLC increased its stake in CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares during the period. FMR LLC boosted its position in shares of CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after buying an additional 1,447,651 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CSX by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,745,972 shares of the transportation company’s stock valued at $440,118,000 after buying an additional 737,221 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

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.