Wells Fargo & Company Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price raised by Wells Fargo & Company from $50.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts also recently commented on the stock. Evercore set a $47.00 target price on shares of CSX in a research note on Thursday, June 25th. Susquehanna upped their price target on shares of CSX from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. TD Cowen increased their price target on CSX from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Citigroup reissued a “neutral” rating and issued a $46.00 price objective (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Finally, Benchmark boosted their price objective on CSX from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average target price of $47.98.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $48.69 on Wednesday. The business has a 50-day moving average of $46.40 and a two-hundred day moving average of $42.03. The firm has a market capitalization of $90.47 billion, a PE ratio of 29.87, a P/E/G ratio of 2.39 and a beta of 1.21. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a 12 month low of $31.80 and a 12 month high of $49.29.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts forecast that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

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

Insider Transactions at CSX

In related news, 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 value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% 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 insiders.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC raised its stake in CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of CSX in the 2nd quarter worth approximately $28,000. Arlington Trust Co LLC grew its position in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC increased its holdings in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. Finally, CrossGen Wealth LLC bought a new stake in shares of CSX in the 4th quarter valued at approximately $54,000. Institutional investors own 73.57% of the company’s stock.

More CSX News

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.