CSX (NASDAQ:CSX) Hits New 12-Month High on Analyst Upgrade

Key Points

• CSX hit a new 52-week high after Susquehanna raised its price target from $44 to $50, helping lift the stock to around $47.35 in Monday trading.
• Analysts remain generally positive on the rail operator, with several firms recently lifting price targets and the stock holding an average Moderate Buy rating with a consensus target of $46.42.
• Recent company activity included insider sales by Director John J. Zillmer and CFO Kevin S. Boone, while CSX also reported quarterly earnings that beat EPS estimates and declared a $0.14 per share dividend.

Shares of CSX Corporation (NASDAQ:CSX - Get Free Report) hit a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $44.00 to $50.00. Susquehanna currently has a neutral rating on the stock. CSX traded as high as $47.34 and last traded at $47.35, with a volume of 497226 shares trading hands. The stock had previously closed at $46.99.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of CSX from $50.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. TD Cowen lifted their target price on shares of CSX from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of CSX in a research note on Monday, June 1st. Evercore increased their price target on CSX from $44.00 to $46.00 in a report on Monday, May 11th. Finally, New Street Research set a $49.00 price target on CSX in a research note on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.42.

Insider Buying and Selling

In other news, Director John J. Zillmer sold 10,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin S. Boone sold 136,708 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CSX. Cbre Investment Management Listed Real Assets LLC grew its stake in CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock valued at $33,555,000 after acquiring an additional 425,395 shares in the last quarter. Pinebridge Investments LLC purchased a new position in CSX in the 4th quarter worth approximately $5,979,000. Reaves W H & Co. Inc. purchased a new position in CSX in the 3rd quarter worth approximately $5,326,000. Cohen & Steers Inc. boosted 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 last quarter. Finally, Allstate Corp boosted its holdings in shares of CSX by 105.7% during the 4th quarter. Allstate Corp now owns 136,869 shares of the transportation company's stock worth $4,962,000 after purchasing an additional 70,326 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.3%

The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $87.60 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. The business has a 50-day moving average price of $44.12 and a 200-day moving average price of $40.15.

CSX (NASDAQ:CSX - Get Free Report) last announced 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 firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The firm's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts forecast that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. CSX's payout ratio is presently 34.36%.

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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