CSX Corporation (NASDAQ:CSX) Given Average Recommendation of “Moderate Buy” by Analysts

CSX Corporation (NASDAQ:CSX) has been assigned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.1667.

Several analysts have recently weighed in on CSX shares. Evercore set a $51.00 target price on CSX in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price target on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Stephens initiated coverage on CSX in a report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price objective on the stock. Finally, Morgan Stanley set a $32.00 target price on CSX and gave the company an “underweight” rating in a research note on Monday, July 6th.

Key Headlines Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Investors purchased 32,791 CSX call options, about 95% above the stock’s typical daily call volume. The activity may indicate increased bullish positioning, although options flows do not necessarily predict future performance.
• Neutral Sentiment: Conrail CEO Gorton is retiring. Because Conrail is co-owned by CSX and Norfolk Southern, the leadership change could create some uncertainty, but the immediate financial effect on CSX is unclear. Conrail CEO Gorton retiring
• Neutral Sentiment: A CSX railroad crossing on State Road 60 in Florida is scheduled to remain closed for two weeks for maintenance or related work. The disruption appears localized and is unlikely to materially affect companywide results. CSX railroad crossing closure
• Negative Sentiment: Two people suffered critical injuries while cranes were being scrapped at a CSX intermodal facility in Jacksonville. The incident could bring operational, regulatory, liability, or reputational concerns, although its financial impact is not yet known. Jacksonville intermodal facility accident
• Negative Sentiment: Chief Accounting Officer Angela C. Williams sold 30,000 shares worth approximately $1.60 million, reducing her direct ownership by 74.19%. Senior Vice President Michael S. Burns also sold 13,000 shares valued at about $684,840, cutting his holdings by 17.90%. Multiple insider sales can weigh on sentiment, though such transactions may reflect personal financial planning rather than a view on CSX’s outlook. CSX insider stock sale

Insider Activity at CSX

In related news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated 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 transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value 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 approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 189,708 shares of company stock worth $9,132,304 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CSX. WFA of San Diego LLC bought a new stake in shares of CSX in the 2nd quarter valued at approximately $28,000. Arlington Trust Co LLC boosted its holdings in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after purchasing an additional 409 shares during the period. Allied Private Wealth LLC bought a new stake in CSX during the second quarter valued at $37,000. Finally, CrossGen Wealth LLC bought a new stake in CSX during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Down 1.9%

Shares of NASDAQ:CSX opened at $50.84 on Friday. The company has a market capitalization of $94.18 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The company has a 50 day moving average of $47.91 and a two-hundred day moving average of $43.43. CSX has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, analysts forecast that CSX will post 1.98 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is currently 32.37%.

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.