Insider Selling: CSX (NASDAQ:CSX) CAO Sells 66,667 Shares of Stock

CSX Corporation (NASDAQ:CSX) CAO Diana Sorfleet sold 66,667 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $37.48, for a total value of $2,498,679.16. Following the transaction, the chief accounting officer directly owned 170,777 shares in the company, valued at approximately $6,400,721.96. The trade was a 28.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

CSX Stock Up 1.3%

CSX stock traded up $0.49 on Thursday, hitting $37.87. 12,081,621 shares of the company’s stock were exchanged, compared to its average volume of 15,840,700. The firm has a 50 day moving average price of $36.11 and a two-hundred day moving average price of $35.21. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $38.11. The stock has a market cap of $70.52 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 1.91 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.71 and a current ratio of 0.81.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

Large investors have recently added to or reduced their stakes in the business. Allstate Corp acquired a new position in CSX during the 3rd quarter worth approximately $2,363,000. Crestwood Advisors Group LLC purchased a new stake in shares of CSX during the 2nd quarter worth $237,000. City Holding Co. grew its stake in shares of CSX by 91.8% during the third quarter. City Holding Co. now owns 47,821 shares of the transportation company’s stock worth $1,698,000 after purchasing an additional 22,883 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in CSX by 83.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 48,182 shares of the transportation company’s stock worth $1,572,000 after buying an additional 21,906 shares during the last quarter. Finally, Crews Bank & Trust boosted its position in shares of CSX by 15.8% during the 2nd quarter. Crews Bank & Trust now owns 13,196 shares of the transportation company’s stock worth $431,000 after acquiring an additional 1,800 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on CSX from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. The Goldman Sachs Group boosted their price target on shares of CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Raymond James Financial boosted their price target on shares of CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, December 18th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.42.

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.