CSX (NASDAQ:CSX) Now Covered by Stephens

Stephens started coverage on shares of CSX (NASDAQ:CSX) in a report issued on Wednesday morning. The brokerage issued an overweight rating and a $57.00 price target on the transportation company’s stock.

CSX has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen raised their target price on CSX from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley set a $32.00 price target on CSX and gave the stock an “underweight” rating in a research report on Monday. Argus increased their price objective on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Vertical Research lowered shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus price target of $47.98.

CSX Price Performance

NASDAQ CSX opened at $48.69 on Wednesday. CSX has a 1 year low of $31.80 and a 1 year high of $49.29. The company has a fifty day simple moving average of $46.40 and a 200 day simple moving average of $42.03. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company has a market cap of $90.47 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.39 and a beta of 1.21.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that CSX will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.14 per share. The ex-dividend date was Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. CSX’s payout ratio is currently 34.36%.

Insiders Place Their Bets

In related news, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Arlington Trust Co LLC lifted its stake in CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Syon Capital LLC grew its stake in shares of CSX by 1.0% in the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after purchasing an additional 287 shares during the period. Root Financial Partners LLC grew its stake in shares of CSX by 7.3% in the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC raised its holdings in shares of CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after buying an additional 346 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of CSX by 0.9% in the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after buying an additional 347 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Stephens initiated coverage on CSX with an overweight rating and a $57 price target, implying meaningful upside from current levels. Tickerreport.com
• Positive Sentiment: Wells Fargo raised its price target on CSX to $54 from $50 and kept an overweight rating, reinforcing a constructive view on the rail operator. Benzinga
• Positive Sentiment: Robert W. Baird increased its target to $53 from $49 and maintained an outperform rating, adding to the bullish analyst momentum around the stock. Benzinga
• Positive Sentiment: CSX is also drawing attention as a momentum stock pick after a strong multi-month run, which may be attracting traders looking for continued relative strength. Yahoo Finance
• Neutral Sentiment: Unusually large call option buying was reported, which can indicate speculation on further upside but does not by itself confirm a fundamental change.
• Neutral Sentiment: Other articles discussed CSX’s recent outperformance versus the S&P 500 and broader rail-industry news, but these items are more descriptive than clearly stock-moving. Railway Age
• Negative Sentiment: One commentary piece argued “3 Reasons to Sell CSX”, suggesting some investors may be concerned the stock’s recent gains have already priced in much of the good news. Yahoo Finance

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.