CSX (NASDAQ:CSX) Reaches New 1-Year High – Still a Buy?

CSX Corporation (NASDAQ:CSX)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $41.78 and last traded at $41.68, with a volume of 10265995 shares. The stock had previously closed at $41.36.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of CSX in a research note on Thursday. Morgan Stanley set a $30.00 price objective on shares of CSX and gave the company an “equal weight” rating in a research report on Monday, December 8th. Wolfe Research reduced their target price on shares of CSX from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. Evercore lowered their price target on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a report on Monday, December 29th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.77.

CSX Stock Up 0.8%

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 company has a market cap of $77.51 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.10 and a beta of 1.30. The business’s 50 day moving average is $37.50 and its 200 day moving average is $35.77.

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

Insider Transactions at CSX

In other CSX news, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the sale, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Diana B. Sorfleet sold 66,667 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $37.48, for a total transaction of $2,498,679.16. Following the completion of the sale, the chief accounting officer owned 170,777 shares in the company, valued at $6,400,721.96. This represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of large investors have recently made changes to their positions in the business. Cbre Investment Management Listed Real Assets LLC increased its holdings in CSX by 81.9% in 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 during the period. Pinebridge Investments LLC acquired a new stake in shares of CSX in the fourth quarter worth $5,979,000. Reaves W H & Co. Inc. purchased a new position in shares of CSX during the third quarter worth $5,326,000. Cohen & Steers Inc. lifted its position in CSX by 1.2% during the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after purchasing an additional 98,977 shares during the period. Finally, Allstate Corp boosted its holdings in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after purchasing an additional 70,326 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.