JPMorgan Chase & Co. Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a report issued on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.94% from the stock’s current price.

A number of other brokerages have also weighed in on CSX. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. BMO Capital Markets decreased their price objective on shares of CSX from $41.00 to $40.00 and set a “market perform” rating for the company in a report on Thursday, April 2nd. Wolfe Research increased their price target on CSX from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group increased their price target on CSX from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Rothschild & Co Redburn lifted their price objective on CSX from $42.50 to $45.50 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $41.44.

CSX Trading Down 0.7%

Shares of CSX stock opened at $41.20 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $40.43 and a two-hundred day moving average price of $37.36. CSX has a 12-month low of $26.29 and a 12-month high of $43.35. The firm has a market cap of $76.66 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Insider Activity at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the completion of the sale, the executive vice president directly owned 82,034 shares in the company, valued at $3,170,614.10. This represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares in the company, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. FNY Investment Advisers LLC lifted its stake in CSX by 437.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC purchased a new position in CSX in the 2nd quarter valued at about $28,000. Pinnacle Bancorp Inc. raised its holdings in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares during the last quarter. CrossGen Wealth LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $54,000. Finally, Aventura Private Wealth LLC acquired a new stake in CSX in the 4th quarter valued at approximately $63,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.