CSX (NASDAQ:CSX) Price Target Raised to $49.00 at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on CSX to $49 from $47 while keeping an outperform rating, implying about 6.4% upside from the current share price.
• Other analysts were also broadly positive, with several firms lifting targets to the $47-$49 range. CSX now has a consensus rating of Moderate Buy and an average price target of $45.58.
• CSX recently reported earnings above estimates, posting $0.43 EPS versus $0.39 expected, while revenue came in slightly below forecasts at $3.48 billion. The stock was trading near its 52-week high around $46.04.

CSX (NASDAQ:CSX - Get Free Report) had its price objective boosted by equities research analysts at Robert W. Baird from $47.00 to $49.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has an "outperform" rating on the transportation company's stock. Robert W. Baird's price target indicates a potential upside of 6.43% from the stock's current price.

Several other analysts have also weighed in on the stock. Barclays reiterated an "overweight" rating and set a $47.00 target price (up from $40.00) on shares of CSX in a research report on Thursday, April 23rd. The Goldman Sachs Group restated a "neutral" rating and set a $41.00 price target (up from $37.00) on shares of CSX in a research note on Thursday, April 23rd. New Street Research set a $49.00 price objective on CSX in a report on Thursday, April 23rd. Royal Bank Of Canada increased their target price on CSX from $43.00 to $47.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Raymond James Financial raised their target price on CSX from $45.00 to $49.00 and gave the stock an "outperform" rating 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 stock. According to MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.58.

CSX Stock Performance

Shares of NASDAQ:CSX traded down $0.16 during trading on Tuesday, hitting $46.04. 972,503 shares of the stock were exchanged, compared to its average volume of 13,305,440. The company has a market capitalization of $85.55 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. CSX has a 1-year low of $30.17 and a 1-year high of $46.55. The company's fifty day simple moving average is $42.30 and its 200-day simple moving average is $39.08.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 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 earned $0.34 earnings per share. CSX's quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that CSX will post 1.89 EPS for the current fiscal year.

Insider Activity

In related news, CEO Stephen F. Angel purchased 25,000 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares of the company's stock, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CSX

A number of institutional investors and hedge funds have recently made changes to their positions in CSX. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock worth $33,555,000 after buying an additional 425,395 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in CSX during the 4th quarter worth $5,979,000. Reaves W H & Co. Inc. acquired a new stake in shares of CSX during the third quarter worth about $5,326,000. Cohen & Steers Inc. raised its holdings in 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 buying an additional 98,977 shares during the period. Finally, Allstate Corp lifted its stake in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company's stock valued at $4,962,000 after buying an additional 70,326 shares in the last quarter. 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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