CSX (NASDAQ:CSX) Price Target Raised to $46.00

CSX (NASDAQ:CSX) had its target price increased by Evercore from $44.00 to $46.00 in a research report released on Monday morning, Marketbeat reports.

CSX has been the subject of several other reports. Bank of America upped their price objective on shares of CSX from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn upped their price objective on shares of CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research note on Tuesday, April 28th. New Street Research set a $49.00 price objective on shares of CSX in a research note on Thursday, April 23rd. Finally, Argus upped their price objective on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.42.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $44.40 on Monday. The company has a market cap of $82.50 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.24. The company has a 50-day moving average price of $42.07 and a 200-day moving average price of $38.87. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. CSX has a 12 month low of $30.17 and a 12 month high of $46.55.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities analysts anticipate that CSX will post 1.89 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 29th. CSX’s dividend payout ratio is presently 34.36%.

Insider Transactions at CSX

In related news, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the transaction, the chief accounting officer directly owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen F. Angel purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average cost of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the purchase, the chief executive officer owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CSX

A number of hedge funds and other institutional investors have recently bought and sold shares of CSX. Cbre Investment Management Listed Real Assets LLC grew its holdings in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares during the period. Pinebridge Investments LLC purchased a new stake in CSX in the fourth quarter worth about $5,979,000. Reaves W H & Co. Inc. purchased a new stake in CSX in the third quarter worth about $5,326,000. Cohen & Steers Inc. grew its holdings in CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares during the period. Finally, Allstate Corp grew its holdings in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after purchasing an additional 70,326 shares during the period. Hedge funds and other 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.