Wolfe Research Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price raised by Wolfe Research from $42.00 to $44.00 in a research report released on Tuesday,MarketScreener reports. The firm currently has an outperform rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Rothschild & Co Redburn lifted their price target on shares of CSX from $39.00 to $42.50 and gave the company a “buy” rating in a research report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, December 18th. Citigroup reduced their price objective on shares of CSX from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CSX in a report on Monday, December 29th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.19.

CSX Price Performance

NASDAQ CSX opened at $40.91 on Tuesday. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $43.35. The stock’s 50-day moving average is $38.95 and its two-hundred day moving average is $36.38. The firm has a market cap of $76.07 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) 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 business’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. On average, analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.14 dividend. The ex-dividend date of this dividend is 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 presently 36.36%.

Insider Transactions at CSX

In related news, CEO Stephen F. Angel acquired 25,000 shares of the stock in a transaction dated Friday, March 6th. The shares were acquired 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 owned 146,540 shares in the company, valued at approximately $5,901,165.80. The trade was a 20.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 188,123 shares of company stock worth $7,454,854 over the last three months. 0.35% of the stock is currently owned by insiders.

Institutional Trading of CSX

Hedge funds have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth about $25,000. FNY Investment Advisers LLC lifted its stake in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares during the period. WFA of San Diego LLC bought a new stake in shares of CSX in the second quarter valued at about $28,000. Pinnacle Bancorp Inc. grew 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 worth $47,000 after buying an additional 729 shares in the last quarter. Finally, CrossGen Wealth LLC acquired a new stake in CSX during the fourth quarter worth about $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.