Robert W. Baird Increases CSX (NASDAQ:CSX) Price Target to $49.00

CSX (NASDAQ:CSX) had its price objective boosted by research analysts at Robert W. Baird from $47.00 to $49.00 in a report released on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 6.43% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Evercore boosted their price objective on shares of CSX from $44.00 to $46.00 in a research report on Monday, May 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $41.00 price target (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Royal Bank Of Canada raised their price objective on CSX from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Benchmark lifted their target price on CSX from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their price target on CSX from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $45.58.

CSX Stock Down 0.4%

Shares of CSX stock traded down $0.16 during trading on Tuesday, reaching $46.04. The stock had a trading volume of 972,503 shares, compared to its average volume of 13,305,440. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $85.55 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 2.38 and a beta of 1.24. The stock has a fifty day moving average price of $42.30 and a two-hundred day moving average price of $39.08. CSX has a 52 week low of $30.17 and a 52 week high of $46.55.

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, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.CSX’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. Sell-side analysts predict that CSX will post 1.89 EPS for the current fiscal year.

Insider Activity at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen F. Angel bought 25,000 shares of CSX stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the purchase, the chief executive officer directly owned 146,540 shares in the company, valued at $5,901,165.80. This trade represents a 20.57% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Syon Capital LLC increased its holdings in shares of CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after buying an additional 323 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of CSX by 2.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after buying an additional 339 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its holdings in shares of CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after buying an additional 346 shares during the period. Finally, Sumitomo Life Insurance Co. grew its stake in CSX by 0.9% in the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock valued at $1,450,000 after buying an additional 347 shares during the last quarter. 73.57% of the stock is owned by 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.