CSX (NASDAQ:CSX) Raised to "Positive" at Susquehanna

Key Points

• Susquehanna upgraded CSX from “neutral” to “positive” and raised its price target to $58 from $50, implying about 16.8% upside from the current share price.
• CSX is trading near its 52-week high after opening at $49.64, and analysts overall remain constructive with a Moderate Buy consensus and an average target price of $49.10.
• The company recently reported better-than-expected EPS of $0.43 versus $0.39 expected, while revenue came in slightly below estimates at $3.48 billion; insiders also sold shares in June.

CSX (NASDAQ:CSX - Get Free Report) was upgraded by investment analysts at Susquehanna from a "neutral" rating to a "positive" rating in a research report issued on Tuesday,Benzinga reports. The firm currently has a $58.00 price objective on the transportation company's stock, up from their previous price objective of $50.00. Susquehanna's price target would indicate a potential upside of 16.84% from the stock's current price.

Several other brokerages have also recently issued reports on CSX. Benchmark lifted their target price on CSX from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Morgan Stanley set a $32.00 price target on CSX and gave the company an "underweight" rating in a research report on Monday, July 6th. Argus raised their price objective on CSX from $42.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. TD Cowen lifted their price objective on shares of CSX from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Friday. Finally, New Street Research set a $49.00 target price on shares of CSX in a research note on Thursday, April 23rd. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.10.

CSX Trading Up 0.5%

CSX opened at $49.64 on Tuesday. CSX has a fifty-two week low of $31.80 and a fifty-two week high of $49.90. The firm has a market capitalization of $92.24 billion, a PE ratio of 30.45, a P/E/G ratio of 2.46 and a beta of 1.21. 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 company's 50-day moving average is $46.67 and its 200 day moving average is $42.30.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (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 company's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. As a group, research analysts predict that CSX will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the business'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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CSX

A number of hedge funds have recently made changes to their positions in CSX. FNY Investment Advisers LLC grew its position in 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 buying an additional 586 shares during the period. WFA of San Diego LLC purchased a new position in CSX in the second quarter valued at about $28,000. Arlington Trust Co LLC boosted its stake in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC grew its position in shares of CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock valued at $34,000 after acquiring an additional 409 shares during the period. Finally, Allied Private Wealth LLC bought a new position in shares of CSX during the 2nd quarter valued at approximately $37,000. 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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