CSX Sets New 1-Year High Following Analyst Upgrade (CSX)
CSX (NYSE:CSX) shares reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $30.00 to $31.00, AnalystRatings.NET reports. Barclays currently has an equal weight rating on the stock. CSX traded as high as $31.13 and last traded at $30.95, with a volume of 2,875,357 shares. The stock had previously closed at $30.77.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of CSX in a research note on Friday. They now have a $31.00 price target on the stock, up previously from $28.00. Separately, analysts at FBR Capital Markets raised their price target on shares of CSX from $33.00 to $35.00 in a research note on Tuesday, June 24th. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of CSX from $30.00 to $32.00 in a research note on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.35.
In other CSX news, EVP Clarence W. Gooden sold 32,200 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $31.00, for a total value of $998,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
The stock’s 50-day moving average is $29.87 and its 200-day moving average is $28.45. The company has a market cap of $31.075 billion and a P/E ratio of 17.35.
CSX (NYSE:CSX) last announced its earnings results on Tuesday, April 15th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that CSX will post $1.86 EPS for the current fiscal year.
CSX Corporation (NYSE:CSX), together with its subsidiaries, is a transportation supplier.
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