CSX (NASDAQ:CSX) Price Target Raised to $43.00

CSX (NASDAQ:CSX) had its target price lifted by analysts at Royal Bank Of Canada from $39.00 to $43.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 8.68% from the stock’s previous close.

Several other equities research analysts have also commented on CSX. Wolfe Research lifted their price target on shares of CSX from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. TD Cowen reiterated a “buy” rating on shares of CSX in a research report on Monday, January 12th. Sanford C. Bernstein reissued a “market perform” rating and issued a $36.00 target price (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Evercore downgraded CSX from an “outperform” rating to an “in-line” rating and set a $41.00 price target on the stock. in a research note on Thursday, March 19th. Finally, Argus lifted their price target on CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

CSX Stock Performance

Shares of CSX opened at $39.57 on Thursday. The company has a market capitalization of $73.57 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. CSX has a 52-week low of $26.22 and a 52-week high of $43.35. 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 stock has a 50 day moving average price of $39.74 and a 200 day moving average price of $36.87.

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 the consensus estimate of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $1,215,774.40. Following the transaction, the executive vice president owned 82,034 shares in the company, valued at $3,170,614.10. The trade was a 27.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the sale, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 188,123 shares of company stock valued at $7,454,854 over the last quarter. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CSX

Several large investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC purchased a new position in shares of CSX in the 3rd quarter valued at about $2,199,000. Rathbones Group PLC lifted its stake in shares of CSX by 20.6% in the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after purchasing an additional 35,403 shares during the period. Canada Post Corp Registered Pension Plan boosted its holdings in CSX by 131.0% during the third quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock worth $2,577,000 after buying an additional 40,780 shares in the last quarter. Allstate Corp acquired a new position in CSX during the third quarter worth about $2,363,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in CSX by 81.9% during the third 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. Hedge funds and other 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.