CSX (NASDAQ:CSX) Sets New 12-Month High - Time to Buy?

Key Points

• CSX shares hit a new 52-week high, trading as high as $48.42 and closing near $48.15, extending a recent rally in the stock.
• Analysts remain broadly positive on CSX, with multiple firms raising price targets and the Street consensus sitting at a “Moderate Buy” with an average target of $47.18.
• Recent results and shareholder returns look solid: CSX beat quarterly EPS expectations, posted 1.7% revenue growth year over year, and paid a quarterly dividend of $0.14 per share for a 1.2% yield.

Shares of CSX Corporation (NASDAQ:CSX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $48.42 and last traded at $48.1520, with a volume of 1067452 shares. The stock had previously closed at $47.66.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. New Street Research set a $49.00 price objective on shares of CSX in a research report on Thursday, April 23rd. Wells Fargo & Company upped their target price on CSX from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. increased their price target on CSX from $42.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. BMO Capital Markets boosted their price objective on CSX from $45.00 to $49.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price objective on CSX from $47.00 to $51.00 and gave the company an "outperform" rating in a research report on Wednesday, June 24th. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average target price of $47.18.

CSX Trading Up 0.7%

The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. The company's fifty day simple moving average is $45.72 and its 200-day simple moving average is $41.37. The company has a market capitalization of $89.15 billion, a P/E ratio of 29.42, a PEG ratio of 2.38 and a beta of 1.22.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. CSX's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Research analysts predict that CSX Corporation will post 1.9 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 29th. CSX's payout ratio is 34.36%.

Insider Buying and Selling at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction 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 sale, the chief financial officer owned 208,622 shares in the company, valued at approximately $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 is accessible through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. FNY Investment Advisers LLC increased its holdings in shares of CSX by 437.3% during the 3rd 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 in the last quarter. Wilkerson Advisory Group LLC raised its holdings in shares of CSX by 97.4% during the first 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 last quarter. WFA of San Diego LLC acquired a new position in CSX in the 2nd quarter valued at $28,000. CrossGen Wealth LLC purchased a new position in CSX in the 4th quarter valued at $54,000. Finally, Valley Wealth Managers Inc. lifted its holdings in CSX by 120.0% in the 1st quarter. Valley Wealth Managers Inc. now owns 1,650 shares of the transportation company's stock valued at $68,000 after purchasing an additional 900 shares in the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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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