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CSX

CSX

$69.78

0.79 (1.15%)

08:02
10/18/19
10/18
08:02
10/18/19
08:02

CSX to purchase approximately 4.7M shares from Mantle Ridge

In a regulatory filing last night, CSX Corporation reported that it had entered into a stock purchase agreement with MR Argent Advisor, on behalf of certain limited partners of its affiliated funds, pursuant to which the company agreed to purchase approximately 4.7M shares of the company's common stock from Mantle Ridge. These shares will be repurchased under CSX's existing $5B share repurchase authorization and funded with cash on hand. The share repurchase has been unanimously approved by the audit committee of the company's board of directors comprised of independent directors who are not affiliated with Mantle Ridge and by the disinterested directors of the company's board of directors. In addition, the company has been advised by Mantle Ridge that an additional approximately 18.8M shares of CSX's common stock has been sold into the market.

  • 13

    Nov

CSX CSX
$69.78

0.79 (1.15%)

07/26/19
07/26/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Goldman Sachs (GS) and Citi (C) upgraded to Outperform from Market Perform at Keefe Bruyette. 2. Ambev (ABEV) upgraded to Neutral from Underweight at JPMorgan with analyst Lucas Ferreira saying the post-earnings share rally shows that investors are chasing good growth stories to play Brazil's economic recovery. 3. West Pharmaceutical (WST) upgraded to Neutral from Underperform at BofA/Merrill with analyst Derik de Bruin saying that over the course of the first half, the company addressed his prior concerns around organic revenue growth and product mix trends while also boosting its operating margins and generating higher free cash flows. 4. Union Pacific (UNP) upgraded to Overweight from Neutral at Atlantic Equities, while CSX (CSX) was upgraded to Neutral from Underweight. 5. Hasbro (HAS) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's dominant position with a range of "strong" brands as well as in the big-screen business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/19
JPMS
10/04/19
DOWNGRADE
Target $76
JPMS
Neutral
CSX downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Brian Ossenbeck downgraded CSX to Neutral from Overweight with a price target of $76, down from $83.
10/04/19
JPMS
10/04/19
NO CHANGE
JPMS
JPMorgan downgrades CSX and Echo Global, upgrades Hub Group
JPMorgan analyst Brian Ossenbeck downgraded both CSX (CSX) and Echo Global (ECHO) to Neutral from Overweight while upgrading Hub Group (HUBG) to Overweight from Neutral. The analyst sees downside risk to 2020 consensus estimates across the Transportation & Logistics sector. However, the truckload carriers should navigate the revisions well as the full truckload rate cycle gains momentum with help from the full implementation of electronic logging devices in mid-December, Ossenbeck tells investors in a research note. His upgrade of Hub Group to Overweight reflects his preference to add full truckload rate exposure at a "reasonable valuation." Further, the company's diverse business model should continue beating expectations in 2020, contends the analyst, who notes that Hub is now his top SMID cap idea. Ossenbeck's downgrade of Echo is based on expectations for continued margin compression in 2020 from its increasing tech investments and narrowing contract/spot spreads. His downgrade of CSX is based on valuation after the company's "tremendous run." The analyst's top rail pick remains Norfolk Southern (NSC).
10/18/19
ARGS
10/18/19
NO CHANGE
Target $82
ARGS
Buy
Recent weakness in CSX offers buying opportunity, says Argus
Argus analyst John Eade is keeping his Buy rating and $82 price target on CSX after its Q3 earnings beat this week. The analyst notes that while the stock has underperformed the market over the past quarter and the past year, the weakness offers a buying opportunity. Eade cites the focus of the new CEO to lower the company's costs to adjust to the challenging current volume trends as well as its commitment to buybacks. The analyst further points to the CSX dividend hikes, which he believes signals its confidence in the company's long-term outlook.

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SFIX

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$NYE

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Zscaler

$47.33

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CDMO

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0.06 (1.03%)

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PLX

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CHWY

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CHWY

Chewy

$24.23

-0.7 (-2.81%)

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CDMO

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FEYE

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SFIX

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MCK

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ASTE

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