CSX (NASDAQ:CSX) Given New $39.00 Price Target at Sanford C. Bernstein

CSX (NASDAQ:CSX) had its target price increased by Sanford C. Bernstein from $36.00 to $39.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have a market perform rating on the transportation company’s stock.

Several other equities research analysts have also issued reports on the stock. Susquehanna reissued a “neutral” rating and issued a $39.00 price target on shares of CSX in a report on Friday, January 23rd. Morgan Stanley set a $30.00 target price on shares of CSX and gave the company an “equal weight” rating in a research report on Monday, December 8th. TD Cowen reissued a “buy” rating on shares of CSX in a research note on Monday, January 12th. JPMorgan Chase & Co. dropped their price target on shares of CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.73.

CSX Price Performance

Shares of CSX stock opened at $41.05 on Tuesday. CSX has a 12 month low of $26.22 and a 12 month high of $43.35. The company has a market capitalization of $76.33 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.04 and a beta of 1.27. The stock has a 50 day moving average of $40.05 and a two-hundred day moving average of $37.12. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion for 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%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts expect that CSX will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.14 dividend. This is an increase from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 27th. CSX’s payout ratio is presently 36.36%.

Insider Transactions at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 82,034 shares in the company, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction dated 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 completion of the transaction, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 188,123 shares of company stock worth $7,454,854. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of CSX during the second quarter valued at approximately $25,000. FNY Investment Advisers LLC raised its position in CSX by 437.3% in the 3rd 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 bought a new position in CSX in the 2nd quarter worth approximately $28,000. Pinnacle Bancorp Inc. lifted its holdings in CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after buying an additional 729 shares in the last quarter. Finally, CrossGen Wealth LLC bought a new position in CSX in the 4th quarter valued at $54,000. 73.57% of the stock is owned by 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.