The CSX Corp. (CSX) Hits New 1-Year High Following Analyst Upgrade

The CSX Corp. (CSX) Hits New 1-Year High Following Analyst Upgrade

CSX Corp. (NASDAQ:CSX) shares reached a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock to $51.00. The company traded as high as $44.06 and last traded at $44.13, with a volume of 58,505,342 shares trading hands. The stock had previously closed at $36.88.

Other research analysts have also recently issued reports about the company. Vetr cut CSX Corp. from a “strong-buy” rating to a “buy” rating and set a $33.67 price objective on the stock. in a research note on Wednesday, October 19th. Deutsche Bank AG started coverage on CSX Corp. in a research note on Wednesday, November 2nd. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Investment Research raised CSX Corp. from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, October 18th. Bank of America Corp. reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX Corp. in a research note on Thursday, December 1st. Finally, RBC Capital Markets reaffirmed a “buy” rating on shares of CSX Corp. in a research note on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.72.

In other CSX Corp. news, President Clarence W. Gooden sold 28,587 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $36.92, for a total value of $1,055,432.04. Following the sale, the president now owns 56,091 shares in the company, valued at approximately $2,070,879.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Clarence W. Gooden sold 15,625 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $32.00, for a total transaction of $500,000.00. Following the completion of the sale, the president now owns 127,954 shares in the company, valued at approximately $4,094,528. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Marco Investment Management LLC boosted its stake in shares of CSX Corp. by 0.3% in the third quarter. Marco Investment Management LLC now owns 8,410 shares of the company’s stock valued at $257,000 after buying an additional 22 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of CSX Corp. by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 11,280 shares of the company’s stock valued at $294,000 after buying an additional 47 shares in the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of CSX Corp. by 0.5% in the second quarter. IFC Holdings Incorporated FL now owns 15,320 shares of the company’s stock valued at $401,000 after buying an additional 72 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in shares of CSX Corp. by 1.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,380 shares of the company’s stock valued at $256,000 after buying an additional 85 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of CSX Corp. by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 30,270 shares of the company’s stock valued at $923,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 68.98% of the company’s stock.

The stock’s 50 day moving average is $37.15 and its 200 day moving average is $31.63. The firm has a market cap of $42.55 billion, a PE ratio of 25.17 and a beta of 1.17.

CSX Corp. (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, January 17th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.01. The company earned $2.86 billion during the quarter. CSX Corp. had a net margin of 15.48% and a return on equity of 15.14%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. On average, equities analysts anticipate that CSX Corp. will post $2.00 earnings per share for the current fiscal year.

CSX Corp. Company Profile

CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.

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