Evercore Forecasts Strong Price Appreciation for CSX (NASDAQ:CSX) Stock

CSX (NASDAQ:CSX) had its price target boosted by investment analysts at Evercore from $44.00 to $46.00 in a research note issued to investors on Monday,MarketScreener reports. Evercore’s price objective would suggest a potential upside of 2.37% from the company’s current price.

CSX has been the subject of several other reports. BMO Capital Markets boosted their price objective on CSX from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Vertical Research lowered shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a research note on Thursday, April 23rd. 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 report on Thursday, April 23rd. Wells Fargo & Company increased their price objective on shares of CSX from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of CSX in a research note on Friday, January 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.42.

CSX Trading Up 0.2%

Shares of CSX opened at $44.94 on Monday. The stock has a market cap of $83.50 billion, a PE ratio of 27.57, a PEG ratio of 2.34 and a beta of 1.24. CSX has a 1 year low of $29.75 and a 1 year high of $46.55. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The stock has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $38.62.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (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 return on equity of 24.47% and a net margin of 21.55%.The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. On average, sell-side analysts predict that CSX will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other CSX news, CEO Stephen F. Angel bought 25,000 shares of CSX stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the transaction, the chief executive officer owned 146,540 shares in the company, valued at $5,901,165.80. The trade was a 20.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the sale, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. This represents a 35.21% 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

Institutional investors have recently modified their holdings of the company. Syon Capital LLC grew its holdings in CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares during the period. Root Financial Partners LLC boosted its stake in CSX by 7.3% during the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after acquiring an additional 323 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in 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 purchasing an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of CSX by 2.7% during the 3rd 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. Finally, Walled Lake Planning & Wealth Management LLC grew its stake in shares of CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after buying an additional 346 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

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.