CSX (NASDAQ:CSX) Hits New 52-Week High on Analyst Upgrade

CSX Corporation (NASDAQ:CSX) reached a new 52-week high on Monday after Rothschild & Co Redburn raised their price target on the stock from $39.00 to $42.50. Rothschild & Co Redburn currently has a buy rating on the stock. CSX traded as high as $38.11 and last traded at $38.0250, with a volume of 4110978 shares trading hands. The stock had previously closed at $37.76.

A number of other research analysts have also recently weighed in on the stock. Citigroup lowered their target price on shares of CSX from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Jefferies Financial Group set a $42.00 price target on CSX and gave the company a “buy” rating in a report on Friday, October 17th. Barclays restated an “overweight” rating on shares of CSX in a research report on Monday, October 20th. Robert W. Baird set a $40.00 target price on CSX and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. decreased their target price on CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.77.

Insider Buying and Selling

In related news, CAO Diana B. Sorfleet sold 66,667 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $37.48, for a total transaction of $2,498,679.16. Following the completion of the transaction, the chief accounting officer directly owned 170,777 shares of the company’s stock, valued at approximately $6,400,721.96. This represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in CSX during the second quarter valued at $25,000. FNY Investment Advisers LLC grew its stake 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 worth $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of CSX in the 2nd quarter worth about $28,000. Pinnacle Bancorp Inc. raised its position in shares of CSX by 121.5% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after buying an additional 729 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new stake in shares of CSX during the 4th quarter valued at about $63,000. 73.57% of the stock is currently owned by institutional investors.

CSX Trading Up 1.7%

The stock has a market cap of $71.49 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.71 and a current ratio of 0.81. The stock’s fifty day moving average is $36.34 and its 200 day moving average is $35.31.

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

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.