CSX (NASDAQ:CSX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

CSX (NASDAQ:CSX) had its price objective boosted by stock analysts at Robert W. Baird from $49.00 to $53.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s price target would indicate a potential upside of 8.58% from the company’s current price.

A number of other brokerages also recently commented on CSX. The Goldman Sachs Group reiterated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on CSX from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Stephens increased their price target on shares of CSX from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, April 6th. New Street Research set a $49.00 price objective on shares of CSX in a report on Thursday, April 23rd. Finally, Benchmark boosted their price objective on shares of CSX from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $47.42.

CSX Stock Performance

Shares of CSX stock opened at $48.81 on Tuesday. CSX has a one year low of $31.80 and a one year high of $49.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. The firm’s 50 day moving average price is $46.23 and its 200-day moving average price is $41.77. The firm has a market cap of $90.70 billion, a P/E ratio of 29.94, a P/E/G ratio of 2.44 and a beta of 1.21.

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. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company earned $0.34 EPS. CSX’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that CSX will post 1.9 EPS for the current year.

Insider Activity at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CSX

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC lifted its position in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of CSX by 3.2% in 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 purchasing an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter worth approximately $28,000. Captrust Financial Advisors lifted its holdings in shares of CSX by 0.8% during the second 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, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.