CSX (NASDAQ:CSX) Given New $46.00 Price Target at TD Cowen

CSX (NASDAQ:CSX) had its price objective hoisted by research analysts at TD Cowen from $45.00 to $46.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would suggest a potential downside of 6.72% from the stock’s current price.

A number of other equities analysts have also recently weighed in on CSX. Raymond James Financial increased their price objective on shares of CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their price target on CSX from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Vertical Research lowered CSX from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a research report on Thursday, April 23rd. Weiss Ratings raised CSX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company boosted their price objective on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.30.

CSX Trading Down 0.1%

NASDAQ CSX opened at $49.31 on Friday. The firm’s 50-day moving average is $46.49 and its two-hundred day moving average is $42.12. CSX has a 12 month low of $31.80 and a 12 month high of $49.55. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. The stock has a market capitalization of $91.63 billion, a P/E ratio of 30.26, a PEG ratio of 2.42 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the firm posted $0.34 earnings per share. CSX’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX will post 1.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC lifted its stake in CSX by 437.3% during 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 during the last quarter. WFA of San Diego LLC acquired a new stake in CSX during the second quarter worth approximately $28,000. Arlington Trust Co LLC lifted its position in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC boosted its holdings in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in shares of CSX in the 2nd quarter valued at $37,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.