Wells Fargo & Company Increases CSX (NASDAQ:CSX) Price Target to $54.00

CSX (NASDAQ:CSX) had its price target hoisted by Wells Fargo & Company from $50.00 to $54.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 11.62% from the stock’s previous close.

Several other brokerages have also weighed in on CSX. Bank of America reissued a “buy” rating and set a $53.00 price objective (up from $51.00) on shares of CSX in a report on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price target on shares of CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Stephens raised their price objective on shares of CSX from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Argus lifted their target price on shares of CSX from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Citigroup reissued a “neutral” rating and issued a $46.00 target price (up from $44.00) on shares of CSX in a research note on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.58.

CSX Price Performance

NASDAQ:CSX opened at $48.38 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a one year low of $31.80 and a one year high of $49.29. The company has a fifty day moving average price of $46.34 and a 200 day moving average price of $41.94. The stock has a market cap of $89.89 billion, a P/E ratio of 29.82, a PEG ratio of 2.44 and a beta of 1.21.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Analysts anticipate that CSX will post 1.9 earnings per share for the current year.

Insiders Place Their Bets

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in CSX by 10.0% in the 2nd quarter. GAMMA Investing LLC now owns 76,675 shares of the transportation company’s stock worth $3,644,000 after purchasing an additional 6,985 shares during the last quarter. Arlington Trust Co LLC boosted its position in 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 last quarter. Somerset Trust Co acquired a new stake in shares of CSX in the 2nd quarter valued at $215,000. Rathbones Group PLC raised its position in shares of CSX by 5.2% during the first quarter. Rathbones Group PLC now owns 113,321 shares of the transportation company’s stock worth $4,652,000 after acquiring an additional 5,624 shares during the last quarter. Finally, Strategic Investment Advisors MI acquired a new position in shares of CSX during the first quarter valued at $103,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.