Citizens Jmp Initiates Coverage on CSX (NASDAQ:CSX)

Stock analysts at Citizens Jmp began coverage on shares of CSX (NASDAQ:CSX) in a research report issued on Wednesday,Benzinga reports. The firm set a “market perform” rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Sanford C. Bernstein lifted their price objective on shares of CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Wolfe Research restated an “outperform” rating and set a $50.00 target price on shares of CSX in a research report on Thursday, April 23rd. New Street Research set a $49.00 target price on shares of CSX in a research note on Thursday, April 23rd. 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. Finally, Evercore set a $47.00 price target on shares of CSX in a research note on Thursday, June 25th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.10.

CSX Stock Performance

NASDAQ CSX opened at $49.92 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. CSX has a twelve month low of $31.80 and a twelve month high of $50.31. The business has a 50-day moving average price of $46.76 and a 200-day moving average price of $42.39. The firm has a market cap of $92.76 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21.

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, beating the consensus estimate 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 the consensus estimate of $3.50 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that CSX will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling at CSX

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction 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 owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. Pinebridge Investments LLC acquired a new position in CSX in the 4th quarter worth about $5,979,000. Cohen & Steers Inc. lifted its position in shares of CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock valued at $300,226,000 after buying an additional 98,977 shares in the last quarter. Allstate Corp grew its stake in CSX by 105.7% in the 4th quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after acquiring an additional 70,326 shares during the period. Farther Finance Advisors LLC raised its position 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 acquiring an additional 45,116 shares during the period. Finally, KTF Investments LLC purchased a new position in CSX during the fourth quarter valued at $1,325,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.