CSX (NASDAQ:CSX) Given New $53.00 Price Target at Royal Bank Of Canada

CSX (NASDAQ:CSX) had its price target cut by research analysts at Royal Bank Of Canada from $54.00 to $53.00 in a report released on Thursday. The firm currently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.31% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Robert W. Baird boosted their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Weiss Ratings raised CSX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley set a $32.00 target price on CSX and gave the stock an “underweight” rating in a research note on Monday, July 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of CSX in a report on Monday, July 13th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.24.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $47.19 on Thursday. The company’s 50 day simple moving average is $49.96 and its 200 day simple moving average is $46.44. The stock has a market capitalization of $87.42 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.19 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX has a 1 year low of $33.46 and a 1 year high of $53.60.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts predict that CSX will post 2 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This trade represents a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.

Institutional Trading of CSX

Several institutional investors have recently added to or reduced their stakes in CSX. QRG Capital Management Inc. increased its position in shares of CSX by 9.7% during the second quarter. QRG Capital Management Inc. now owns 303,294 shares of the transportation company’s stock worth $14,790,000 after buying an additional 26,779 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in CSX by 22.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 50,812 shares of the transportation company’s stock valued at $2,415,000 after buying an additional 9,272 shares during the period. Andra AP fonden lifted its holdings in CSX by 6.7% in the second quarter. Andra AP fonden now owns 401,947 shares of the transportation company’s stock valued at $19,105,000 after buying an additional 25,400 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in CSX during the second quarter valued at $58,000. Finally, Reynders McVeigh Capital Management LLC boosted its position in shares of CSX by 18.1% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 33,664 shares of the transportation company’s stock valued at $1,600,000 after purchasing an additional 5,169 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.