CSX (NASDAQ:CSX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of CSX (NASDAQ:CSX – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.

CSX has been the topic of a number of other reports. Truist Financial set a $46.00 price target on shares of CSX in a research note on Friday, July 10th. Weiss Ratings cut shares of CSX from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Evercore set a $51.00 price objective on shares of CSX in a research note on Thursday. Raymond James Financial restated an “outperform” rating and issued a $56.00 target price on shares of CSX in a research report on Monday, July 13th. Finally, Rothschild & Co Redburn boosted their target price on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Seventeen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.17.

Read Our Latest Research Report on CSX

CSX Price Performance

Shares of CSX stock opened at $51.80 on Friday. 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 has a twelve month low of $31.80 and a twelve month high of $53.60. The company has a market cap of $95.96 billion, a P/E ratio of 29.94, a P/E/G ratio of 2.48 and a beta of 1.21. The business has a fifty day simple moving average of $47.81 and a 200 day simple moving average of $43.32.

CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, sell-side analysts forecast that CSX will post 1.96 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the sale, the chief financial officer directly owned 208,622 shares in the company, valued at $9,742,647.40. This trade represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently modified their holdings of CSX. 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 during the last quarter. Allied Private Wealth LLC acquired a new stake in CSX in the second quarter valued at $37,000. Wilkerson Advisory Group LLC raised its position in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after purchasing an additional 409 shares during the last quarter. WFA of San Diego LLC bought a new position in CSX during the 2nd quarter worth $28,000. Finally, CrossGen Wealth LLC acquired a new position in CSX during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Key CSX News

Here are the key news stories impacting CSX this week:

  • Positive Sentiment: Unusually heavy call-option activity indicated speculative bullish interest: investors purchased 32,791 calls, roughly 95% above the stock’s average daily call volume.
  • Positive Sentiment: Citigroup reportedly expects further upside for CSX, reinforcing the view that recent earnings strength and an improving freight cycle could support the shares. CSX Stock Price Expected to Rise, Citigroup Analyst Says
  • Positive Sentiment: Recent transportation results suggest freight conditions may be turning more favorable. CSX’s earnings strength and efficiency gains were viewed more positively than the fuel-cost pressures affecting some other transportation companies. CSX and Knight-Swift Show the Freight Cycle Is Turning

About CSX

(Get Free Report)

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.

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