CSX (NASDAQ:CSX) Given New $55.00 Price Target at Susquehanna

Key Points

• Susquehanna lowered CSX’s price target from $59 to $55 while maintaining a “positive” rating, implying approximately 18% upside from the stock’s reported $46.54 price.
• Analyst sentiment remains favorable: CSX has a “Moderate Buy” consensus rating, with 18 Buy, seven Hold, and one Sell rating, and an average target price of $51.13.
• CSX exceeded quarterly expectations, reporting $0.54 in EPS versus a $0.52 consensus estimate and $3.94 billion in revenue, up 10.1% year over year.

CSX (NASDAQ:CSX - Get Free Report) had its price target decreased by equities research analysts at Susquehanna from $59.00 to $55.00 in a report released on Friday, Benzinga reports. The firm presently has a "positive" rating on the transportation company's stock. Susquehanna's target price indicates a potential upside of 18.18% from the stock's current price.

A number of other analysts also recently issued reports on CSX. Stifel Nicolaus set a $54.00 price target on shares of CSX in a report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on shares of CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Evercore set a $51.00 target price on shares of CSX in a report on Thursday, July 23rd. Citigroup lifted their target price on shares of CSX from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Finally, Morgan Stanley set a $32.00 target price on shares of CSX and gave the company an "underweight" rating in a research note on Monday, July 6th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.13.

CSX Stock Up 0.1%

CSX stock opened at $46.54 on Friday. The stock has a market capitalization of $86.21 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.19 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. CSX has a 1-year low of $33.63 and a 1-year high of $53.60. The business has a fifty day moving average price of $49.48 and a 200-day moving average price of $46.72.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period last year, the firm posted $0.44 earnings per share. CSX's revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast that CSX will post 2 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Michael Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company's stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Angela Williams sold 30,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $556,187.73. This represents a 74.19% 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.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. Archer Investment Corp bought a new position in CSX in the 2nd quarter worth $26,000. N.E.W. Advisory Services LLC purchased a new stake in CSX in the 2nd quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new stake in CSX during the second quarter valued at about $29,000. Manning & Napier Advisors LLC bought a new stake in CSX during the second quarter valued at about $30,000. Finally, Arlington Trust Co LLC lifted its position 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 valued at $32,000 after acquiring an additional 250 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation NASDAQ: CSX is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.

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