CSX (NASDAQ:CSX) Price Target Raised to $46.00 at Evercore

Key Points

• Evercore raised CSX’s price target from $44 to $46, implying a modest upside of about 2.37% from the current share price.
• Several other analysts have also recently adjusted their views on CSX, and the stock now carries a consensus rating of “Moderate Buy” with a consensus target price of $45.42.
• CSX reported better-than-expected quarterly earnings of $0.43 per share, topping estimates, while revenue came in slightly below consensus at $3.48 billion.

CSX (NASDAQ:CSX - Get Free Report) had its price target boosted by research analysts at Evercore from $44.00 to $46.00 in a research note issued to investors on Monday,MarketScreener reports. Evercore's price target would indicate a potential upside of 2.37% from the stock's current price.

A number of other research firms also recently commented on CSX. Sanford C. Bernstein lifted their price target on CSX from $36.00 to $39.00 and gave the stock a "market perform" rating in a research note on Tuesday, March 31st. Susquehanna reissued a "neutral" rating and set a $39.00 price target on shares of CSX in a research report on Friday, January 23rd. Citigroup reissued a "neutral" rating and set a $46.00 target price (up from $44.00) on shares of CSX in a report on Thursday, April 23rd. Robert W. Baird lifted their price objective on shares of CSX from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Finally, Barclays restated an "overweight" rating and issued a $47.00 target price (up from $40.00) on shares of CSX in a research report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.42.

CSX Trading Up 0.2%

Shares of CSX stock opened at $44.94 on Monday. The company has a market capitalization of $83.50 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 2.34 and a beta of 1.24. 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 firm has a 50-day moving average price of $41.92 and a 200 day moving average price of $38.62. CSX has a twelve month low of $29.75 and a twelve month high of $46.55.

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, beating analysts' consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion during 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 business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Research analysts forecast that CSX will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Diana B. Sorfleet sold 90,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the transaction, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen F. Angel bought 25,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the acquisition, the chief executive officer owned 146,540 shares of the company's stock, valued at $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of CSX

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC lifted its holdings in shares of CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company's stock valued at $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of CSX in the second quarter worth about $28,000. Wilkerson Advisory Group LLC lifted its holdings in CSX by 97.4% in 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. Pinnacle Bancorp Inc. grew its holdings in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company's stock valued at $47,000 after buying an additional 729 shares during the last quarter. Finally, CrossGen Wealth LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $54,000. Institutional investors own 73.57% of the company's stock.

CSX Company Profile

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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