Stock analysts at Citizens Jmp initiated coverage on shares of CSX (NASDAQ:CSX – Get Free Report) in a report issued on Wednesday,Benzinga reports. The firm set a “market perform” rating on the transportation company’s stock.
A number of other equities analysts have also weighed in on the company. Vertical Research lowered CSX from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research report on Thursday, April 23rd. Wells Fargo & Company raised their price target on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Jefferies Financial Group lifted their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating and set a $56.00 price objective on shares of CSX in a report on Monday. Finally, Citigroup began coverage on shares of CSX in a research report on Wednesday. They set a “market perform” rating on the stock. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.10.
CSX Stock Performance
CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Research analysts anticipate that CSX will post 1.92 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was 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 approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC raised its stake in CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter worth approximately $28,000. Arlington Trust Co LLC increased its stake in shares of 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 in the last quarter. Wilkerson Advisory Group LLC increased its stake in shares of 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 in the last quarter. Finally, Allied Private Wealth LLC bought a new stake in shares of CSX during the 2nd quarter valued at $37,000. 73.57% of the stock is currently owned by institutional investors.
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.
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