CSX (NASDAQ:CSX) Downgraded to “Neutral” at Bank of America

Bank of America downgraded shares of CSX (NASDAQ:CSX) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat.com reports. The firm currently has $37.00 price target on the transportation company’s stock.

Other equities analysts also recently issued reports about the stock. Susquehanna cut their price target on shares of CSX from $44.00 to $40.00 and set a positive rating on the stock in a report on Tuesday, June 25th. Benchmark restated a buy rating and issued a $40.00 target price on shares of CSX in a research note on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the stock a buy rating in a research note on Friday, April 12th. Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They issued an equal weight rating and a $35.00 target price on the stock. Finally, UBS Group dropped their target price on shares of CSX from $46.00 to $44.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $37.39.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $32.92 on Monday. The company has a market capitalization of $64.36 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.73 and a beta of 1.20. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The firm’s 50-day moving average is $33.37 and its 200 day moving average is $35.08. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. Research analysts predict that CSX will post 1.95 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.46%. CSX’s dividend payout ratio (DPR) is 26.37%.

Institutional Investors Weigh In On CSX

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in CSX in the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the first quarter worth $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX in the fourth quarter worth $34,000. Finally, Burkett Financial Services LLC purchased a new position in shares of CSX in the fourth quarter worth $34,000. 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.