Brokerages Set CSX Corporation (NASDAQ:CSX) PT at $38.71

CSX Corporation (NASDAQ:CSX) has been given a consensus rating of “Moderate Buy” by the twenty-six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.8333.

Several equities research analysts recently issued reports on the company. Wolfe Research boosted their price target on CSX from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised CSX from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $37.00 to $40.00 in a research report on Thursday, September 25th. Raymond James Financial reiterated an “outperform” rating and issued a $40.00 target price (up from $39.00) on shares of CSX in a report on Friday, October 17th. Wall Street Zen upgraded shares of CSX from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Evercore ISI reissued an “outperform” rating and set a $39.00 target price (up previously from $37.00) on shares of CSX in a research report on Friday, October 17th.

CSX Trading Up 0.6%

CSX opened at $37.39 on Thursday. CSX has a twelve month low of $26.22 and a twelve month high of $37.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The firm has a market cap of $69.63 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 3.19 and a beta of 1.30. The firm’s fifty day moving average is $35.59 and its two-hundred day moving average is $34.33.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 20.55% and a return on equity of 24.95%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the business earned $0.45 EPS. The company’s revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that CSX will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.13 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.52 annualized dividend and a yield of 1.4%. CSX’s dividend payout ratio is currently 33.99%.

Insider Activity

In other news, CEO Stephen F. Angel acquired 55,000 shares of CSX stock in a transaction dated Monday, October 20th. The shares were purchased at an average cost of $36.87 per share, for a total transaction of $2,027,850.00. Following the transaction, the chief executive officer owned 58,234 shares of the company’s stock, valued at $2,147,087.58. This trade represents a 1,700.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael S. Burns sold 24,249 shares of CSX stock in a transaction on Monday, October 20th. The stock was sold at an average price of $36.76, for a total transaction of $891,393.24. Following the completion of the transaction, the senior vice president owned 51,640 shares in the company, valued at approximately $1,898,286.40. The trade was a 31.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC increased its position in shares of CSX by 4.1% in the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after buying an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC lifted its stake in CSX by 2.7% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock valued at $463,000 after buying an additional 339 shares in the last quarter. Smartleaf Asset Management LLC increased its position in CSX by 1.4% during the first quarter. Smartleaf Asset Management LLC now owns 27,329 shares of the transportation company’s stock worth $796,000 after buying an additional 380 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in shares of CSX by 0.9% in the second quarter. Stock Yards Bank & Trust Co. now owns 45,558 shares of the transportation company’s stock worth $1,487,000 after acquiring an additional 400 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in CSX by 0.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock valued at $2,660,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.