Investors Buy High Volume of Call Options on CSX (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 19,660 call options on the stock. This represents an increase of 179% compared to the average volume of 7,046 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CSX shares. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Raymond James reaffirmed an “outperform” rating and issued a $33.00 target price (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Barclays lowered their target price on CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company decreased their target price on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Argus set a $32.00 target price on CSX in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

CSX Stock Performance

Shares of CSX opened at $32.61 on Wednesday. The stock’s fifty day moving average price is $29.42 and its two-hundred day moving average price is $31.33. The firm has a market cap of $61.26 billion, a PE ratio of 18.22, a PEG ratio of 1.92 and a beta of 1.24. CSX has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities research analysts forecast that CSX will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, May 30th. CSX’s payout ratio is currently 31.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX during the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new stake in CSX during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of CSX during the 4th quarter valued at $31,000. Finally, Sierra Ocean LLC purchased a new position in shares of CSX in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.