CSX (NASDAQ:CSX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

CSX (NASDAQ:CSX) had its price objective upped by research analysts at Royal Bank Of Canada from $47.00 to $51.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the transportation company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 9.36% from the stock’s current price.

CSX has been the subject of several other research reports. Argus increased their price objective on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 22nd. BMO Capital Markets boosted their price objective on shares of CSX from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of CSX in a research report on Monday, June 1st. Benchmark increased their price objective on CSX from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein upped their price objective on shares of CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average target price of $46.66.

CSX Stock Performance

CSX stock traded up $0.47 during midday trading on Wednesday, reaching $46.63. The stock had a trading volume of 892,637 shares, compared to its average volume of 13,196,814. CSX has a 12 month low of $31.80 and a 12 month high of $48.03. The firm’s 50-day moving average price is $45.43 and its 200 day moving average price is $41.15. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $86.65 billion, a PE ratio of 28.59, a P/E/G ratio of 2.31 and a beta of 1.22.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, research analysts predict that CSX will post 1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated 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. The trade was a 39.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several large investors have recently made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after acquiring an additional 425,395 shares during the period. Pinebridge Investments LLC purchased a new stake in shares of CSX during the 4th quarter worth about $5,979,000. Cohen & Steers Inc. increased its position in CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares in the last quarter. Allstate Corp lifted its position in CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after buying an additional 70,326 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after buying an additional 45,116 shares during the period. Institutional investors 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.