CSX Co. (CSX) Sees Large Growth in Short Interest

CSX Co. (NASDAQ:CSX) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 16,115,722 shares, an increase of 20.9% from the October 15th total of 13,330,657 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average trading volume of 8,360,361 shares, the days-to-cover ratio is presently 1.9 days.

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 1st. Citigroup increased their price target on shares of CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, October 1st. BMO Capital Markets downgraded shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 price target on the stock. in a report on Wednesday, September 5th. They noted that the move was a valuation call. Stephens reiterated a “buy” rating and issued a $85.00 price target on shares of CSX in a report on Tuesday, October 9th. Finally, Morgan Stanley increased their price target on shares of CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $77.60.

Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its position in shares of CSX by 295.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 603,792 shares of the transportation company’s stock valued at $44,711,000 after buying an additional 451,031 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of CSX by 10.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 134,837 shares of the transportation company’s stock valued at $10,251,000 after buying an additional 13,259 shares in the last quarter. Bank of Hawaii lifted its position in shares of CSX by 28.3% during the 3rd quarter. Bank of Hawaii now owns 19,792 shares of the transportation company’s stock valued at $1,466,000 after buying an additional 4,360 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of CSX by 7.8% during the 3rd quarter. CIBC World Markets Inc. now owns 519,481 shares of the transportation company’s stock valued at $38,468,000 after buying an additional 37,626 shares in the last quarter. Finally, Affinity Investment Advisors LLC purchased a new position in shares of CSX during the 3rd quarter valued at approximately $238,000. Institutional investors and hedge funds own 76.20% of the company’s stock.

Shares of NASDAQ:CSX opened at $70.66 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.43. CSX has a twelve month low of $48.26 and a twelve month high of $76.24. The company has a market capitalization of $59.42 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.11. CSX had a return on equity of 21.38% and a net margin of 55.19%. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that CSX will post 3.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.25%. CSX’s dividend payout ratio is presently 38.26%.

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About CSX

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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