CSX (NASDAQ:CSX) Now Covered by Stephens

Equities researchers at Stephens started coverage on shares of CSX (NASDAQ:CSX) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $57.00 price target on the transportation company’s stock. Stephens’ price objective points to a potential upside of 17.61% from the stock’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of CSX from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. Jefferies Financial Group lifted their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. Wolfe Research reaffirmed an “outperform” rating and issued a $50.00 target price on shares of CSX in a report on Thursday, April 23rd. Finally, Citigroup reiterated a “neutral” rating and set a $46.00 target price (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average price target of $47.98.

CSX Stock Performance

Shares of CSX traded down $0.04 during trading hours on Wednesday, hitting $48.47. The stock had a trading volume of 597,907 shares, compared to its average volume of 13,151,039. The firm has a market capitalization of $90.05 billion, a PE ratio of 29.76, a PEG ratio of 2.44 and a beta of 1.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a 12 month low of $31.80 and a 12 month high of $49.29. The stock has a fifty day moving average price of $46.34 and a 200 day moving average price of $41.94.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. Analysts anticipate that CSX will post 1.9 EPS for the current year.

Insiders Place Their Bets

In related news, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan increased its holdings in shares of CSX by 34.2% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after purchasing an additional 24,566 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its stake in CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after buying an additional 425,395 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of CSX by 26.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock worth $4,057,000 after buying an additional 23,072 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of CSX by 159.5% in the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after acquiring an additional 45,116 shares during the last quarter. Finally, KTF Investments LLC acquired a new position in CSX in the 4th quarter valued at about $1,325,000. Institutional investors own 73.57% of the company’s stock.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Robert W. Baird raised its price target on CSX to $53 from $49 and kept an outperform rating, signaling confidence in further upside for the railroad operator. Benzinga article
• Positive Sentiment: CSX saw unusually strong options activity, with call volume running well above normal, which can indicate bullish trader sentiment and expectations for continued gains.
• Neutral Sentiment: CSX continues to attract broad market attention after a strong multi-month run, including a large outperformance versus the S&P 500, though that also raises the bar for future results. Yahoo Finance article
• Neutral Sentiment: Recent news items about CSX train accidents and railroad crossing closures are primarily operational/public-safety headlines and do not clearly change the earnings outlook, but they may keep some investors cautious.
• Negative Sentiment: A recent article titled “3 Reasons to Sell CSX” reflects a bearish viewpoint and could pressure sentiment if investors focus on valuation after the stock’s big run. Yahoo Finance article

About CSX

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.