Is it Now Time For Investors to Consider Selling CSX Corporation (NYSE:CSX) Stock? Bank of America (Merrill Lynch) Downgrades The Company


CSX Corporation (NYSE:CSX) Receives a Downgrade

Bank of America (Merrill Lynch) downgraded shares of CSX Corporation (NYSE:CSX) from their old rating of a Buy to a Neutral in an interesting research report revealed on Friday morning. They now have a $29.00 target PPS on the stock.

From a total of 24 analysts covering CSX Corporation (NYSE:CSX) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 14 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $39 while the lowest target price is $27. The mean of all analyst targets is $31.69 with a 20.62% above today’s ($27.11) stock price. CSX Corporation was the topic of 12 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on October 12 with “Hold” rating. RBC Capital Markets maintained shares with “Outperform” rating and $37 target share price in a report from a September 2. Barclays Capital maintained CSX stock in a recent report from October 5 with “Equal-Weight” rating. Stifel Nicolaus upgraded the rating on August 27. Stifel Nicolaus has a “Buy” rating and a $35 price target on shares. Finally, Citigroup maintained the stock with “Buy” rating in a report issued on an October 2.

The stock increased 0.04% or $0.01 on December 4, striking $27.11. Approximately 1,000 shares of stock traded hands. CSX Corporation (NYSE:CSX) has declined 27.66% since May 1, 2015 and is downtrending. It has underperformed by 24.87% the S&P500.

CSX Corporation , together with its subsidiaries, is a transportation company. The company has a market cap of $26.42 billion. The Firm provides rail transportation services, including traditional rail service and the transport of intermodal containers and trailers. It has 13.46 P/E ratio. The Firm has three lines of business: merchandise business, coal business and the intermodal business.

According to Zacks Investment Research, “CSX Corporation’s unique combination of rail, container-shipping, intermodal and logistics services provides global reach that’s second to none. The company’s goal, advanced at each of its business units, is to provide efficient, competitive transportation and related services for customers.” Get a free copy of the Zacks research report on CSX Corporation (CSX).