CSX (NASDAQ:CSX) Raised to “Positive” at Susquehanna

CSX (NASDAQ:CSX) was upgraded by investment analysts at Susquehanna from a “neutral” rating to a “positive” rating in a report released on Tuesday,Benzinga reports. The firm currently has a $58.00 price target on the transportation company’s stock, up from their previous price target of $50.00. Susquehanna’s price target points to a potential upside of 16.84% from the company’s previous close.

Several other research firms also recently commented on CSX. Truist Financial set a $46.00 price objective on shares of CSX in a report on Friday. Stephens assumed coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of CSX from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings upgraded shares of CSX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. Finally, Morgan Stanley set a $32.00 price objective on shares of CSX and gave the stock an “underweight” rating in a report on Monday, July 6th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.10.

CSX Stock Up 0.5%

Shares of NASDAQ CSX opened at $49.64 on Tuesday. CSX has a one year low of $31.80 and a one year high of $49.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. The business’s fifty day moving average price is $46.67 and its 200-day moving average price is $42.30. The stock has a market capitalization of $92.24 billion, a PE ratio of 30.45, a P/E/G ratio of 2.46 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that CSX will post 1.91 EPS for the current year.

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by insiders.

Institutional Trading of CSX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan boosted its holdings in CSX by 34.2% in the 4th 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. SOA Wealth Advisors LLC. increased its holdings 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 purchasing an additional 23,072 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of CSX by 159.5% in the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after purchasing an additional 45,116 shares during the period. KTF Investments LLC purchased a new stake in shares of CSX in the fourth quarter worth $1,325,000. Finally, BNB Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at $1,125,000. Institutional investors own 73.57% of the company’s stock.

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.