CSX (NASDAQ:CSX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

CSX (NASDAQ:CSX) had its price objective boosted by research analysts at Royal Bank Of Canada from $39.00 to $43.00 in a report released on Thursday,MarketScreener reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 8.39% from the company’s current price.

CSX has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Morgan Stanley set a $30.00 price objective on CSX and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Raymond James Financial lifted their price objective on CSX from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Sanford C. Bernstein restated a “market perform” rating and set a $36.00 target price (down from $37.00) on shares of CSX in a research report on Friday, January 23rd. Finally, Argus raised their price target on CSX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.60.

CSX Price Performance

CSX stock opened at $39.67 on Thursday. The firm has a 50 day moving average of $39.87 and a 200-day moving average of $36.94. The firm has a market capitalization of $73.77 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. CSX has a 12 month low of $26.22 and a 12 month high of $43.35. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the company posted $0.42 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Insider Transactions at CSX

In related news, CAO Diana B. Sorfleet sold 90,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,882,876.28. This trade represents a 35.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen F. Angel bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the transaction, the chief executive officer directly owned 146,540 shares in the company, valued at $5,901,165.80. The trade was a 20.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CSX. Union Savings Bank bought a new stake in shares of CSX in the 4th quarter worth approximately $138,000. CrossGen Wealth LLC bought a new position in shares of CSX during the 4th quarter valued at $54,000. BNB Wealth Management LLC bought a new position in shares of CSX during the 4th quarter valued at $1,125,000. Align Financial LLC purchased a new position in CSX in the 4th quarter worth $1,021,000. Finally, Captrust Financial Advisors raised its position in CSX by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock worth $15,345,000 after purchasing an additional 18,025 shares during the period. 73.57% of the stock is currently owned by institutional investors.

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.