CSX (NASDAQ:CSX) Price Target Raised to $50.00

CSX (NASDAQ:CSX) had its price target upped by Jefferies Financial Group from $42.00 to $50.00 in a report published on Tuesday,MarketScreener reports. The firm currently has a buy rating on the transportation company’s stock.

Several other research analysts have also recently weighed in on CSX. Morgan Stanley set a $30.00 price target on CSX and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Susquehanna reissued a “neutral” rating and issued a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of CSX from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. TD Cowen reaffirmed a “buy” rating on shares of CSX in a report on Monday, January 12th. Finally, Argus boosted their price objective on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.10.

CSX Stock Performance

Shares of CSX stock opened at $41.15 on Tuesday. CSX has a 1 year low of $26.22 and a 1 year high of $43.35. The firm’s 50-day moving average is $38.72 and its 200 day moving average is $36.27. The stock has a market cap of $76.52 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 2.18 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.81 and a quick ratio of 0.69.

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

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. CSX’s payout ratio is 36.36%.

Insider Activity at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares in the company, valued at $6,882,876.28. This trade represents a 35.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Stephen Fortune sold 31,456 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the sale, the executive vice president directly owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CSX. Strengthening Families & Communities LLC purchased a new position in CSX during the third quarter valued at approximately $2,199,000. Canada Post Corp Registered Pension Plan increased its stake in shares of CSX by 131.0% in the third quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock worth $2,577,000 after purchasing an additional 40,780 shares in the last quarter. Allstate Corp bought a new stake in shares of CSX during the 3rd quarter valued at $2,363,000. Reaves W H & Co. Inc. bought a new stake in shares of CSX during the 3rd quarter valued at $5,326,000. Finally, Crestwood Advisors Group LLC purchased a new position in shares of CSX during the 2nd quarter valued at $237,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.