TD Cowen slashes price target on CSX Corp. [CSX] – find out why.

CSX Corp. [NASDAQ: CSX] stock went on a downward path that fall over -0.39% on Monday, amounting to a one-week price decrease of less than -0.89%. The company report on March 6, 2024 at 10:00 AM that CSX Chief Executive Officer to Address JP Morgan Industrials Conference.

This address will be broadcast live via webcast at http://investors.csx.com. A replay will be available following the conclusion of this event. This announcement, as well as additional financial information, is available on the company’s website at http://investors.csx.com.

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Over the last 12 months, CSX stock rose by 27.82%. The one-year CSX Corp. stock forecast points to a potential upside of 1.86. The average equity rating for CSX stock is currently 1.74, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $74.53 billion, with 1.96 billion shares outstanding and 1.95 billion shares in the current float. Compared to the average trading volume of 11.72M shares, CSX stock reached a trading volume of 5923995 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on CSX Corp. [CSX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CSX shares is $38.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CSX stock is a recommendation set at 1.74. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for CSX Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 25, 2024. The new note on the price target was released on January 08, 2024, representing the official price target for CSX Corp. stock. Previously, the target price had yet another raise from $37 to $40, while JP Morgan kept a Overweight rating on CSX stock. On September 08, 2023, analysts increased their price target for CSX shares from 34 to 36.

The Average True Range (ATR) for CSX Corp. is set at 0.56, with the Price to Sales ratio for CSX stock in the period of the last 12 months amounting to 5.08. The Price to Book ratio for the last quarter was 6.14, with the Price to Cash per share for the same quarter was set at 0.73. Price to Free Cash Flow for CSX in the course of the last twelve months was 22.80 with Quick ratio for the last quarter at 0.91.

CSX Stock Performance Analysis:

CSX Corp. [CSX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.89. With this latest performance, CSX shares gained by 2.62% in over the last four-week period, additionally plugging by 27.01% over the last 6 months – not to mention a rise of 27.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CSX stock in for the last two-week period is set at 62.00, with the RSI for the last a single of trading hit 58.14, and the three-weeks RSI is set at 63.90 for CSX Corp. [CSX]. The present Moving Average for the last 50 days of trading for this stock 36.24, while it was recorded at 38.10 for the last single week of trading, and 32.95 for the last 200 days.

Insight into CSX Corp. Fundamentals:

CSX Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 1.05.

CSX Stock EPS

With the latest financial reports released by the company, CSX Corp. posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CSX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CSX Corp. go to 9.83%.

CSX Corp. [CSX] Institutonal Ownership Details

The top three institutional holders of CSX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CSX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CSX stock with ownership which is approximately 5.8325%.