Wolfe Research Increases CSX (NASDAQ:CSX) Price Target to $44.00

CSX (NASDAQ:CSX) had its price objective lifted by equities research analysts at Wolfe Research from $42.00 to $44.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Wolfe Research’s price objective indicates a potential upside of 8.06% from the stock’s current price.

Several other brokerages have also commented on CSX. Evercore cut their price target on shares of CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Morgan Stanley set a $30.00 price objective on CSX and gave the company an “equal weight” rating in a research report on Monday, December 8th. Jefferies Financial Group upped their price objective on shares of CSX from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, December 18th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of CSX in a research report on Thursday, February 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.19.

CSX Trading Up 0.3%

Shares of NASDAQ CSX opened at $40.72 on Tuesday. The firm’s 50 day moving average price is $38.86 and its 200-day moving average price is $36.33. The company has a market cap of $75.72 billion, a PE ratio of 26.47, a P/E/G ratio of 2.04 and a beta of 1.26. CSX has a 52-week low of $26.22 and a 52-week high of $43.35. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. CSX’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Insider Transactions at CSX

In other CSX news, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer owned 165,613 shares in the company, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the sale, the executive vice president owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,123 shares of company stock worth $7,454,854 in the last ninety days. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On CSX

Institutional investors have recently made changes to their positions in the stock. Syon Capital LLC boosted its position in shares of CSX by 1.0% in the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after buying an additional 287 shares during the period. Root Financial Partners LLC raised its stake in shares of CSX by 7.3% during the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock worth $296,000 after acquiring an additional 331 shares during the period. Moloney Securities Asset Management LLC lifted its position in shares of CSX by 2.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after buying an additional 339 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC grew its stake in shares of CSX by 2.7% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.