CSX (NASDAQ:CSX) Price Target Raised to $49.00

CSX (NASDAQ:CSX) had its price target boosted by investment analysts at BMO Capital Markets from $45.00 to $49.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 3.49% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Vertical Research downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a report on Thursday, April 23rd. TD Cowen boosted their price objective on shares of CSX from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Barclays restated an “overweight” rating and set a $55.00 price objective on shares of CSX in a research report on Thursday. Argus raised their target price on shares of CSX from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $53.00 target price (up from $51.00) on shares of CSX in a research report on Wednesday, June 17th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.18.

CSX Stock Up 2.8%

CSX traded up $1.29 during midday trading on Thursday, reaching $47.35. The company’s stock had a trading volume of 1,359,078 shares, compared to its average volume of 13,194,064. CSX has a 1 year low of $31.80 and a 1 year high of $48.03. The stock’s 50-day moving average is $45.51 and its 200-day moving average is $41.22. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 2.30 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

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, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.CSX’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, research analysts expect 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 CSX 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 sale, 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of CSX

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC lifted its holdings in CSX by 437.3% during the 3rd 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. Wilkerson Advisory Group LLC grew its stake in CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after acquiring an additional 409 shares in the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth approximately $28,000. CrossGen Wealth LLC purchased a new position in shares of CSX during the fourth quarter worth approximately $54,000. Finally, Valley Wealth Managers Inc. raised its stake in shares of CSX by 120.0% during the first quarter. Valley Wealth Managers Inc. now owns 1,650 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 900 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

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.