CSX (NASDAQ:CSX) Cut to “In-Line” at Evercore

CSX (NASDAQ:CSX) was downgraded by analysts at Evercore from an “outperform” rating to an “in-line” rating in a research report issued on Thursday,Finviz reports. They presently have a $41.00 price target on the transportation company’s stock. Evercore’s price objective would indicate a potential upside of 3.43% from the company’s previous close.

CSX has been the topic of several other reports. Rothschild & Co Redburn increased their price target on CSX from $39.00 to $42.50 and gave the company a “buy” rating in a report on Friday, January 30th. Susquehanna reiterated a “neutral” rating and set a $39.00 price objective on shares of CSX in a research report on Friday, January 23rd. Bank of America lowered their target price on CSX from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. TD Cowen reissued a “buy” rating on shares of CSX in a research report on Monday, January 12th. Finally, Wolfe Research boosted their price target on CSX from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.48.

CSX Stock Performance

Shares of CSX stock opened at $39.64 on Thursday. 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 50 day moving average price of $39.41 and a 200-day moving average price of $36.65. CSX has a 52 week low of $26.22 and a 52 week high of $43.35. The firm has a market capitalization of $73.71 billion, a PE ratio of 25.74, a P/E/G ratio of 2.06 and a beta of 1.27.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts expect that CSX will post 1.83 earnings per share for the current year.

Insider Buying and Selling at CSX

In other CSX news, EVP Stephen Fortune sold 31,456 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was 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 owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen F. Angel purchased 25,000 shares of CSX stock in a transaction on Friday, March 6th. The stock was bought at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the transaction, the chief executive officer owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 188,123 shares of company stock valued at $7,454,854. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in CSX during the second quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its stake in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after purchasing an additional 586 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of CSX during the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. lifted its stake in shares of CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after buying an additional 729 shares in the last quarter. Finally, CrossGen Wealth LLC bought a new position in CSX in the 4th quarter worth $54,000. Institutional investors own 73.57% of the company’s stock.

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.