CSX (NASDAQ:CSX) Hits New 52-Week High - Time to Buy?

Key Points

• CSX shares hit a new 52-week high, trading as high as $49.29, which put the stock near its recent peak after a strong run.
• Wall Street sentiment remains positive: analysts largely rate CSX a Moderate Buy, with a consensus price target of $47.18 and several firms recently raising their targets.
• CSX continues to post solid operating results, including Q1 earnings of $0.43 per share that beat estimates, alongside a quarterly dividend of $0.14 per share for a 1.1% yield.

CSX Corporation (NASDAQ:CSX - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $49.29 and last traded at $49.17, with a volume of 522721 shares. The stock had previously closed at $48.89.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSX. Barclays restated an "overweight" rating and issued a $55.00 price target (up from $47.00) on shares of CSX in a report on Thursday, June 25th. Stephens increased their target price on shares of CSX from $42.00 to $47.00 and gave the company an "overweight" rating in a research report on Monday, April 6th. Wells Fargo & Company raised their target price on shares of CSX from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price target on shares of CSX from $45.00 to $49.00 and gave the stock a "market perform" rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $41.00 price target (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.18.

CSX Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company has a market cap of $91.20 billion, a PE ratio of 30.13, a P/E/G ratio of 2.44 and a beta of 1.21. The firm's 50-day simple moving average is $46.23 and its two-hundred day simple moving average is $41.77.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. CSX's payout ratio is 34.36%.

Insider Activity

In related news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction 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 trade represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares of the company's stock, valued at $16,430,015.30. The trade was 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rathbones Group PLC boosted its stake in shares of CSX by 20.6% in the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company's stock worth $7,367,000 after acquiring an additional 35,403 shares during the last quarter. Canada Post Corp Registered Pension Plan lifted its holdings in CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock valued at $3,498,000 after purchasing an additional 24,566 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in CSX by 81.9% in 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 purchasing an additional 425,395 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in CSX by 26.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company's stock worth $4,057,000 after purchasing an additional 23,072 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in CSX by 159.5% during the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company's stock worth $2,661,000 after purchasing an additional 45,116 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

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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