Bank of America Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

Key Points

• Bank of America raised its price target on CSX from $49 to $51, implying about 10.8% upside from the prior close.
• Analyst sentiment remains constructive: several firms recently boosted targets or reiterated positive ratings, and CSX now has a consensus “Moderate Buy” with an average target of $45.58.
• CSX reported better-than-expected quarterly EPS of $0.43 versus $0.39 expected, while shares traded slightly lower at $46.04 in midday trading.

CSX (NASDAQ:CSX - Get Free Report) had its price target hoisted by Bank of America from $49.00 to $51.00 in a research note issued to investors on Tuesday,MarketScreener reports. Bank of America's price target would indicate a potential upside of 10.78% from the company's previous close.

CSX has been the topic of a number of other reports. TD Cowen lifted their price objective on shares of CSX from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Wolfe Research reissued an "outperform" rating and issued a $50.00 price objective on shares of CSX in a research note on Thursday, April 23rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $41.00 target price (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. Rothschild & Co Redburn raised their price objective on CSX from $45.50 to $47.50 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, Robert W. Baird increased their target price on CSX from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $45.58.

CSX Stock Down 0.4%

CSX stock traded down $0.16 during midday trading on Tuesday, hitting $46.04. The company's stock had a trading volume of 972,503 shares, compared to its average volume of 13,305,440. The firm has a market capitalization of $85.55 billion, a P/E ratio of 28.24, a PEG ratio of 2.38 and a beta of 1.24. The firm has a 50-day simple moving average of $42.30 and a 200-day simple moving average of $39.08. CSX has a 52-week low of $30.17 and a 52-week high of $46.55. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX - Get Free Report) last released 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. 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 company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. As a group, equities analysts forecast that CSX will post 1.89 EPS for the current year.

Insider Transactions at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the transaction, the chief accounting officer directly owned 165,613 shares of the company's stock, valued at approximately $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen F. Angel bought 25,000 shares of the business's stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the transaction, the chief executive officer directly owned 146,540 shares of the company's stock, valued at $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.30% of the company's stock.

Institutional Trading of CSX

Institutional investors have recently modified their holdings of the company. Syon Capital LLC lifted its holdings in CSX by 1.0% in the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company's stock valued at $1,026,000 after acquiring an additional 287 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company's stock valued at $172,000 after buying an additional 323 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in shares of CSX by 2.7% in the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company's stock valued at $463,000 after buying an additional 339 shares in the last quarter. Walled Lake Planning & Wealth Management LLC lifted its position in shares of CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company's stock valued at $480,000 after acquiring an additional 346 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of CSX by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company's stock valued at $1,450,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

About CSX

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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