CSX (NASDAQ:CSX) Price Target Raised to $41.00

CSX (NASDAQ:CSX) had its price objective increased by analysts at Evercore ISI from $39.00 to $41.00 in a report released on Thursday,MarketScreener reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s target price points to a potential upside of 12.05% from the stock’s current price.

Several other equities analysts have also weighed in on CSX. Bank of America cut their price target on CSX from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Wells Fargo & Company raised shares of CSX from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $37.00 to $40.00 in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of CSX in a research note on Monday. Robert W. Baird set a $40.00 price target on CSX and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Wall Street Zen raised CSX from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.88.

CSX Price Performance

Shares of CSX stock opened at $36.59 on Thursday. The stock has a market cap of $68.14 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 3.30 and a beta of 1.30. The stock has a 50 day moving average price of $35.65 and a 200-day moving average price of $34.46. CSX has a one year low of $26.22 and a one year high of $37.54. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Equities analysts expect that CSX will post 1.83 EPS for the current year.

Insider Activity

In other CSX news, CEO Stephen F. Angel bought 55,000 shares of CSX stock in a transaction on Monday, October 20th. The shares were bought at an average price of $36.87 per share, for a total transaction of $2,027,850.00. Following the completion of the transaction, the chief executive officer directly owned 58,234 shares of the company’s stock, valued at $2,147,087.58. This trade represents a 1,700.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the transaction, the executive vice president directly owned 197,521 shares of the company’s stock, valued at approximately $7,128,532.89. This trade represents a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of CSX by 13.3% during the first quarter. Wellington Management Group LLP now owns 133,184 shares of the transportation company’s stock worth $3,920,000 after buying an additional 15,605 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in CSX by 5.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 72,129 shares of the transportation company’s stock worth $2,123,000 after acquiring an additional 3,597 shares during the period. Erste Asset Management GmbH raised its stake in shares of CSX by 20.1% during the 1st quarter. Erste Asset Management GmbH now owns 28,824 shares of the transportation company’s stock worth $839,000 after buying an additional 4,823 shares in the last quarter. Finally, Summit Financial LLC lifted its holdings in CSX by 9.4% in the first quarter. Summit Financial LLC now owns 32,431 shares of the transportation company’s stock valued at $954,000 after acquiring an additional 2,797 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.