CSX (NASDAQ:CSX) Price Target Raised to $51.00 at Royal Bank Of Canada

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

Several other research firms have also weighed in on CSX. Raymond James Financial increased their target price on shares of CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $47.00 target price (up from $40.00) on shares of CSX in a research report on Thursday, April 23rd. 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. Jefferies Financial Group increased their price target on CSX from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Stephens upped their target price on CSX from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, April 6th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.66.

CSX Price Performance

Shares of NASDAQ:CSX traded up $0.47 during trading hours on Wednesday, hitting $46.63. 892,637 shares of the company’s stock traded hands, compared to its average volume of 13,196,814. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. The company has a market cap of $86.65 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.22. The company’s fifty day simple moving average is $45.43 and its two-hundred day simple moving average is $41.15. CSX has a 52 week low of $31.80 and a 52 week high of $48.03.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior 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 analysts anticipate that CSX will post 1.9 EPS for the current fiscal year.

Insider Transactions at CSX

In other news, Director John J. Zillmer sold 10,000 shares of CSX 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of CSX 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC increased its position in shares of 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 purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter worth approximately $28,000. Wilkerson Advisory Group LLC boosted its stake in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares in the last quarter. CrossGen Wealth LLC bought a new position in shares of CSX during the 4th quarter valued at $54,000. Finally, Aventura Private Wealth LLC purchased a new position in CSX in the 4th quarter worth $63,000. 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.