Stock Traders Purchase Large Volume of Call Options on CSX (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the target of some unusual options trading on Tuesday. Stock investors purchased 19,660 call options on the company. This represents an increase of 179% compared to the average volume of 7,046 call options.

Institutional Trading of CSX

Several large investors have recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter valued at $27,000. Rossby Financial LCC acquired a new position in CSX during the 1st quarter worth $28,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX during the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX in the fourth quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX during the first quarter worth approximately $30,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

NASDAQ CSX opened at $32.61 on Wednesday. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market capitalization of $61.26 billion, a P/E ratio of 18.22, a PEG ratio of 1.92 and a beta of 1.24. The stock has a 50-day simple moving average of $29.42 and a two-hundred day simple moving average of $31.33. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities analysts forecast that CSX will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.59%. CSX’s dividend payout ratio (DPR) is presently 31.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI lowered their price target on CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada reduced their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Finally, Bank of America boosted their price objective on shares of CSX from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.95.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.