Robert W. Baird Has Lowered Expectations for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target lowered by Robert W. Baird from $39.00 to $38.00 in a research note issued to investors on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on CSX. Royal Bank of Canada lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Stephens lowered their price objective on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Jefferies Financial Group raised shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, Barclays lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $37.68.

CSX Trading Down 2.9 %

CSX opened at $32.69 on Friday. The firm’s fifty day moving average is $33.58 and its two-hundred day moving average is $33.95. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. The firm has a market cap of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. CSX has a twelve month low of $31.43 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last posted 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 return on equity of 28.92% and a net margin of 24.77%. Equities research analysts anticipate that CSX will post 1.83 EPS for the current year.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. Public Sector Pension Investment Board raised its position in shares of CSX by 69.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock valued at $2,495,000 after buying an additional 30,531 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of CSX by 300.9% in the 2nd quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock valued at $18,007,000 after buying an additional 404,037 shares in the last quarter. AlTi Global Inc. raised its position in shares of CSX by 5.2% in the 2nd quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock valued at $230,000 after buying an additional 342 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of CSX by 9.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 32,657 shares of the transportation company’s stock valued at $1,092,000 after buying an additional 2,860 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of CSX in the 2nd quarter valued at approximately $221,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.