Susquehanna Cuts CSX (NASDAQ:CSX) Price Target to $55.00

CSX (NASDAQ:CSX) had its target price cut by Susquehanna from $59.00 to $55.00 in a research report released on Friday,Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the company. Barclays restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 target price on shares of CSX in a research report on Friday, July 24th. Wells Fargo & Company increased their target price on CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Citizens Jmp initiated coverage on shares of CSX in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Stephens assumed coverage on shares of CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.13.

CSX Stock Performance

NASDAQ:CSX opened at $47.43 on Friday. The firm has a 50-day moving average of $49.36 and a two-hundred day moving average of $46.77. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The stock has a market cap of $87.86 billion, a P/E ratio of 27.42, a PEG ratio of 2.23 and a beta of 1.21. CSX has a 1-year low of $33.63 and a 1-year high of $53.60.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts expect that CSX will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 31st. CSX’s payout ratio is currently 32.37%.

Insider Activity at CSX

In other news, CAO Angela C. Williams sold 30,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently made changes to their positions in CSX. Archer Investment Corp acquired a new position in CSX in the second quarter worth $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX during the second quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of CSX in the 2nd quarter worth about $29,000. Manning & Napier Advisors LLC bought a new position in shares of CSX in the 2nd quarter worth about $30,000. Finally, Arlington Trust Co LLC boosted its holdings in shares of CSX by 58.0% in the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

About CSX

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.