Analysts Set CSX Corporation (NASDAQ:CSX) Target Price at $50.54

CSX Corporation (NASDAQ:CSX) has been assigned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $51.1667.

Several analysts recently weighed in on CSX shares. Bank of America boosted their price objective on CSX from $53.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Argus increased their target price on CSX from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Citizens Jmp initiated coverage on CSX in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Barclays reissued an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, Robert W. Baird raised their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th.

CSX Trading Down 1.1%

CSX opened at $50.19 on Friday. The firm has a market capitalization of $92.98 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.34 and a beta of 1.21. The firm’s 50 day moving average is $48.09 and its 200-day moving average is $43.64. CSX has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. Analysts expect that CSX will post 1.98 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Insider Buying and Selling at CSX

In other news, Director John J. Zillmer sold 10,000 shares of the company’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 transaction, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. This trade represents a 74.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,708 shares of company stock worth $9,132,304 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CSX

Hedge funds have recently made changes to their positions in the business. WFA of San Diego LLC acquired a new position in CSX during the 2nd quarter worth $28,000. Arlington Trust Co LLC grew its stake in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Wilkerson Advisory Group LLC increased its holdings in shares of CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares during the period. Allied Private Wealth LLC bought a new stake in shares of CSX during the second quarter valued at about $37,000. Finally, CrossGen Wealth LLC bought a new stake in shares of CSX during the fourth quarter valued at about $54,000. Institutional investors own 73.57% of the company’s stock.

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.