CSX (NASDAQ:CSX) Given New $38.00 Price Target at Susquehanna

CSX (NASDAQ:CSX) had its price objective lifted by equities research analysts at Susquehanna from $34.00 to $38.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price target would suggest a potential upside of 4.68% from the company’s previous close.

A number of other research analysts have also recently issued reports on CSX. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $39.00) on shares of CSX in a report on Friday, October 17th. JPMorgan Chase & Co. raised their target price on CSX from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday. Stephens boosted their price target on CSX from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Wells Fargo & Company upgraded CSX from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $40.00 in a research note on Thursday, September 25th. Finally, Sanford C. Bernstein lifted their target price on CSX from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.13.

CSX Stock Up 0.3%

Shares of CSX stock traded up $0.12 during trading on Monday, reaching $36.30. The company’s stock had a trading volume of 11,665,039 shares, compared to its average volume of 14,969,737. CSX has a 1-year low of $26.22 and a 1-year high of $37.54. The company has a 50-day simple moving average of $35.74 and a two-hundred day simple moving average of $34.99. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 1.45. The company has a market cap of $67.60 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 2.81 and a beta of 1.30.

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

Insider Buying and Selling

In related news, CEO Stephen F. Angel purchased 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was bought at an average price of $36.87 per share, with a total value of $2,027,850.00. Following the acquisition, the chief executive officer owned 58,234 shares in the company, valued at $2,147,087.58. The trade was a 1,700.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael S. Burns sold 24,249 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the transaction, the senior vice president directly owned 51,640 shares in the company, valued at approximately $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On CSX

Several institutional investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC raised its holdings in shares of CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after acquiring an additional 331 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of CSX by 2.7% during the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock worth $463,000 after purchasing an additional 339 shares in the last quarter. Stock Yards Bank & Trust Co. raised its stake in CSX by 0.9% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 45,558 shares of the transportation company’s stock valued at $1,487,000 after purchasing an additional 400 shares during the last quarter. Gleason Group Inc. lifted its holdings in CSX by 19.1% in the 4th quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 425 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in CSX by 0.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock worth $2,660,000 after purchasing an additional 510 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.