CSX (NASDAQ:CSX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CSX (NASDAQ:CSX) had its price target increased by investment analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.68% from the stock’s current price.

Several other analysts have also recently issued reports on CSX. Wall Street Zen upgraded CSX from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. TD Cowen increased their price objective on shares of CSX from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wells Fargo & Company upgraded shares of CSX from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $40.00 in a research report on Thursday, September 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $38.96.

CSX Stock Performance

NASDAQ:CSX opened at $35.63 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The stock has a 50-day simple moving average of $35.73 and a two-hundred day simple moving average of $34.98. The firm has a market capitalization of $66.35 billion, a PE ratio of 23.29, a P/E/G ratio of 2.75 and a beta of 1.30. CSX has a 52-week low of $26.22 and a 52-week high of $37.54.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a return on equity of 24.95% and a net margin of 20.55%.The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Analysts forecast that CSX will post 1.83 EPS for the current year.

Insider Buying and Selling

In other CSX news, CEO Stephen F. Angel purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were bought at an average price of $36.87 per share, with a total value of $2,027,850.00. Following the completion of the purchase, the chief executive officer directly owned 58,234 shares in the company, valued at $2,147,087.58. This trade represents a 1,700.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the transaction, the executive vice president owned 197,521 shares of the company’s stock, valued at $7,128,532.89. This trade represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. 0.35% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in CSX during the second quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its position in shares of CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC purchased a new stake in CSX during the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. lifted its position in CSX by 121.5% in 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 during the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in CSX in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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.