CSX (NASDAQ:CSX) Given New $47.00 Price Target at Stephens

CSX (NASDAQ:CSX) had its price target increased by Stephens from $42.00 to $47.00 in a research note released on Monday,MarketScreener reports. They currently have an overweight rating on the transportation company’s stock.

A number of other research firms have also recently weighed in on CSX. Susquehanna restated a “neutral” rating and issued a $39.00 price target on shares of CSX in a research note on Friday, January 23rd. Raymond James Financial raised their price target 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 cut their price target on CSX from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Wolfe Research boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.19.

CSX Stock Up 0.6%

Shares of CSX stock opened at $41.48 on Monday. CSX has a 52-week low of $26.22 and a 52-week high of $43.35. The company has a 50 day moving average of $40.43 and a 200 day moving average of $37.36. 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 company has a market capitalization of $77.18 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.29 and a beta of 1.25.

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

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, February 27th. This represents a $0.56 annualized dividend and a yield of 1.4%. This is an increase from CSX’s previous quarterly dividend of $0.13. CSX’s dividend payout ratio (DPR) is 36.36%.

Insider Buying and Selling

In related news, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares in the company, valued at $3,170,614.10. This trade represents a 27.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen F. Angel purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $40.27 per share, for a total transaction of $1,006,750.00. Following the completion of the purchase, the chief executive officer directly owned 146,540 shares in the company, valued at $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. Additional details regarding this purchase 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 corporate insiders.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of CSX. FNY Investment Advisers LLC increased its holdings in shares of CSX by 437.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC acquired a new position in shares of CSX in the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. increased its holdings in shares of CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares during the period. CrossGen Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at $54,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at $63,000. 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.