CSX (NASDAQ:CSX) Sets New 1-Year High – Still a Buy?

Shares of CSX Corporation (NASDAQ:CSX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $43.54 and last traded at $43.4830, with a volume of 2445218 shares trading hands. The stock had previously closed at $42.72.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CSX shares. TD Cowen reissued a “buy” rating on shares of CSX in a report on Monday, January 12th. Sanford C. Bernstein lifted their price target on shares of CSX from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Benchmark reaffirmed a “buy” rating and issued a $46.00 price target (up from $40.00) on shares of CSX in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of CSX from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada lifted their price target on shares of CSX from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, March 26th. Sixteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.20.

CSX Stock Up 1.4%

The stock has a market capitalization of $80.61 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.25. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69. The business’s fifty day moving average price is $41.09 and its two-hundred day moving average price is $37.86.

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

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 27th. CSX’s dividend payout ratio is presently 36.36%.

Insider Activity

In related news, CEO Stephen F. Angel acquired 25,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the sale, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 188,123 shares of company stock valued at $7,454,854 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its position in CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 586 shares during the period. WFA of San Diego LLC acquired a new position in CSX during the second quarter valued at $28,000. Pinnacle Bancorp Inc. lifted its position in CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 729 shares during the period. CrossGen Wealth LLC acquired a new position in CSX during the fourth quarter valued at $54,000. Finally, Aventura Private Wealth LLC acquired a new position in CSX during the fourth quarter valued at $63,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.