CSX (NASDAQ:CSX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target on CSX to $43 (from $39) and kept an outperform rating, implying roughly an 8.7% upside from the current price.
• Analyst sentiment is broadly positive with 18 Buy ratings versus 7 Hold, a consensus rating of "Moderate Buy" and an average price target of $40.60.
• Insider activity is mixed: CEO Stephen F. Angel bought 25,000 shares at about $40.27 while the CAO sold 90,000 shares, and insiders have net sold 188,123 shares over the last 90 days (insiders own 0.55%).

CSX (NASDAQ:CSX - Get Free Report) had its price target increased by Royal Bank Of Canada from $39.00 to $43.00 in a research report issued on Thursday,MarketScreener reports. The firm presently has an "outperform" rating on the transportation company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 8.68% from the stock's current price.

CSX has been the subject of several other research reports. Jefferies Financial Group upped their price objective on shares of CSX from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Morgan Stanley set a $30.00 target price on CSX and gave the stock an "equal weight" rating in a report on Monday, December 8th. Raymond James Financial increased their price target on CSX from $40.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on CSX from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, December 11th. Finally, Argus boosted their price objective on CSX from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. Eighteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.60.

CSX Stock Down 0.0%

Shares of CSX opened at $39.57 on Thursday. The stock's 50-day moving average price is $39.74 and its 200-day moving average price is $36.87. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $73.57 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.99 and a beta of 1.27. CSX has a 52 week low of $26.22 and a 52 week high of $43.35.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion for the quarter, compared to analysts' expectations of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. On average, sell-side analysts predict that CSX will post 1.83 EPS for the current year.

Insider Buying and Selling at CSX

In related news, CEO Stephen F. Angel bought 25,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price 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 approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business'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 value of $3,740,400.00. Following the completion of the sale, the chief accounting officer directly owned 165,613 shares in the company, valued at approximately $6,882,876.28. The trade was a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 188,123 shares of company stock valued at $7,454,854 over the last 90 days. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On CSX

Several institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after purchasing an additional 849 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of CSX during the second quarter worth $25,000. SVB Wealth LLC purchased a new position in CSX in the second quarter valued at $807,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company's stock valued at $2,428,000 after buying an additional 2,281 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in CSX in the second quarter valued at $28,000. Institutional investors and hedge funds own 73.57% of the company's stock.

About CSX

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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