CSX (NASDAQ:CSX) Price Target Raised to $46.00

CSX (NASDAQ:CSX) had its price objective hoisted by Wolfe Research from $44.00 to $46.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the transportation company’s stock. Wolfe Research’s price objective suggests a potential upside of 11.65% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein raised their price objective on CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Raymond James Financial raised their price objective on CSX from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Bank of America lowered their price objective on CSX from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Royal Bank Of Canada raised their price target on CSX from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, March 26th. Finally, Stephens raised their price target on CSX from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.44.

CSX Stock Performance

NASDAQ CSX opened at $41.20 on Tuesday. The stock has a market capitalization of $76.66 billion, a PE ratio of 26.76, a P/E/G ratio of 2.29 and a beta of 1.25. The business has a 50 day simple moving average of $40.43 and a two-hundred day simple moving average of $37.36. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69. CSX has a 1-year low of $26.29 and a 1-year high of $43.35.

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

Insiders Place Their Bets

In other news, CEO Stephen F. Angel acquired 25,000 shares of CSX stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the acquisition, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This trade represents a 20.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer owned 165,613 shares in the company, valued at $6,882,876.28. The trade was a 35.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 188,123 shares of company stock worth $7,454,854 in the last ninety days. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strengthening Families & Communities LLC purchased a new position in CSX during the 3rd quarter worth $2,199,000. Rathbones Group PLC increased its holdings in shares of CSX by 20.6% in the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after acquiring an additional 35,403 shares during the period. Canada Post Corp Registered Pension Plan increased its holdings in shares of CSX by 131.0% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock valued at $2,577,000 after acquiring an additional 40,780 shares during the period. Allstate Corp purchased a new position in shares of CSX in the 3rd quarter valued at $2,363,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of 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 valued at $33,555,000 after acquiring an additional 425,395 shares during the period. 73.57% of the stock is currently owned by hedge funds and other 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.