CSX (NASDAQ:CSX) Price Target Raised to $56.00 at JPMorgan Chase & Co.

CSX (NASDAQ:CSX) had its price target raised by analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.98% from the stock’s current price.

Several other research firms have also issued reports on CSX. Stephens began coverage on shares of CSX in a report on Wednesday. They issued an “overweight” rating and a $57.00 target price for the company. Wolfe Research reissued an “outperform” rating and set a $50.00 price target on shares of CSX in a research report on Thursday, April 23rd. Bank of America reissued a “buy” rating and issued a $53.00 price objective (up from $51.00) on shares of CSX in a research note on Wednesday, June 17th. BMO Capital Markets upped their price target on CSX from $45.00 to $49.00 and gave the stock a “market perform” rating in a research report on Thursday, June 25th. Finally, New Street Research set a $49.00 target price on shares of CSX in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.62.

CSX Price Performance

Shares of CSX traded up $0.21 during mid-day trading on Friday, hitting $49.56. 2,060,192 shares of the stock were exchanged, compared to its average volume of 13,111,710. The company has a market cap of $92.10 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. The firm has a 50-day moving average of $46.49 and a two-hundred day moving average of $42.12. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. CSX has a 52-week low of $31.80 and a 52-week high of $49.65.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. On average, equities analysts predict that CSX will post 1.91 earnings per share for the current year.

Insider Transactions at CSX

In other news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently bought and sold shares of CSX. Pinebridge Investments LLC acquired a new position in shares of CSX during the 4th quarter worth approximately $5,979,000. Cohen & Steers Inc. grew its holdings in shares of CSX by 1.2% during the 4th 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. Allstate Corp boosted its stake in CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after buying an additional 70,326 shares during the period. Farther Finance Advisors LLC increased its holdings in CSX by 159.5% in the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock valued at $2,661,000 after purchasing an additional 45,116 shares during the last quarter. Finally, KTF Investments LLC acquired a new stake in shares of CSX in the fourth quarter valued at $1,325,000. 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.