CSX (NASDAQ:CSX) Price Target Raised to $54.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on CSX from $50 to $54 and maintained an overweight rating, implying about 11.6% upside from the prior close.
• Other analysts have also turned more positive: recent target increases came from firms including Raymond James and Robert W. Baird, while the broader consensus remains Moderate Buy with an average price target of $47.58.
• CSX shares were down 0.3% to $48.38 despite solid recent fundamentals, including EPS of $0.43 for the latest quarter, which beat estimates, and 73.57% institutional ownership.

CSX (NASDAQ:CSX - Get Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $50.00 to $54.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. Wells Fargo & Company's price objective points to a potential upside of 11.62% from the company's previous close.

A number of other research analysts have also issued reports on CSX. Raymond James Financial lifted their target price on CSX from $45.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Citigroup restated a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Sanford C. Bernstein boosted their target price on shares of CSX from $36.00 to $39.00 and gave the stock a "market perform" rating in a report on Tuesday, March 31st. Vertical Research lowered shares of CSX from a "buy" rating to a "hold" rating and set a $44.00 target price for the company. in a research note on Thursday, April 23rd. Finally, Robert W. Baird raised their target price on shares of CSX from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.58.

CSX Trading Down 0.3%

CSX stock opened at $48.38 on Wednesday. CSX has a 12-month low of $31.80 and a 12-month high of $49.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. The stock has a market capitalization of $89.89 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.44 and a beta of 1.21. The firm has a 50 day simple moving average of $46.34 and a 200-day simple moving average of $41.94.

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

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On CSX

Several institutional investors have recently bought and sold shares of the stock. Canada Post Corp Registered Pension Plan raised its stake in shares of 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 acquiring an additional 24,566 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in 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 valued at $33,555,000 after purchasing an additional 425,395 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in CSX by 26.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company's stock valued at $4,057,000 after purchasing an additional 23,072 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of CSX by 159.5% in the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company's stock valued at $2,661,000 after purchasing an additional 45,116 shares during the period. Finally, KTF Investments LLC acquired a new stake in shares of CSX in the fourth quarter worth $1,325,000. 73.57% of the stock is currently owned by institutional investors.

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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