CSX (NASDAQ:CSX) Rating Increased to Positive at Susquehanna

Susquehanna upgraded shares of CSX (NASDAQ:CSX) from a neutral rating to a positive rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $58.00 price target on the transportation company’s stock, up from their prior price target of $50.00.

CSX has been the topic of several other research reports. TD Cowen upped their target price on CSX from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, July 10th. Barclays reiterated an “overweight” rating and issued a $55.00 price objective (up from $47.00) on shares of CSX in a research report on Thursday, June 25th. Vertical Research cut shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a research note on Thursday, April 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of CSX from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.10.

CSX Trading Up 0.6%

Shares of CSX opened at $49.92 on Tuesday. CSX has a twelve month low of $31.80 and a twelve month high of $50.31. 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 firm has a market capitalization of $92.76 billion, a P/E ratio of 30.63, a PEG ratio of 2.45 and a beta of 1.21. The firm’s 50-day moving average is $46.76 and its two-hundred day moving average is $42.39.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. On average, research analysts predict that CSX will post 1.92 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is 34.36%.

Insiders Place Their Bets

In related news, Director John J. Zillmer sold 10,000 shares of the company’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 in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On CSX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after buying an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in CSX by 3.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares during the period. WFA of San Diego LLC acquired a new stake in CSX during the second quarter worth about $28,000. Captrust Financial Advisors raised its holdings in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after purchasing an additional 3,162 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after purchasing an additional 27,280 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Key CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Susquehanna upgraded CSX from “neutral” to “positive” and lifted its price target to $58 from $50, signaling confidence in additional upside for the railroad operator. Benzinga
• Positive Sentiment: Analysts are heading into CSX’s Q2 earnings report on July 22 with higher earnings and revenue estimates, helped by network gains and improved freight trends, which supports sentiment ahead of the release. CSX to Report Q2 Earnings: What’s in Store for the Stock?
• Positive Sentiment: Reports that CSX is boosting efficiency and fluidity at Radnor Yard, including adding power switches, suggest ongoing operational improvements that could support margins and service reliability. Watch: CSX Boosting ‘Safety, Efficiency, Fluidity’ at Radnor Yard
• Neutral Sentiment: Several local news items about a bridge issue in St. Joseph Harbor and cleanup after a Richmond derailment may keep some attention on operational disruptions, but the direct stock impact appears limited so far. CSX bridge at St. Joseph Harbor stuck in closed position CSX crews remove grain, pull cars from Richmond canal after Shockoe Bottom derailment

CSX Company Profile

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.