CSX (NASDAQ:CSX) Hits New 1-Year High – Should You Buy?

CSX Corporation (NASDAQ:CSX) reached a new 52-week high on Thursday . The stock traded as high as $41.78 and last traded at $41.68, with a volume of 10265995 shares traded. The stock had previously closed at $41.36.

Wall Street Analyst Weigh In

CSX has been the topic of several research analyst reports. Evercore reduced their target price on CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of CSX in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lifted 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. BMO Capital Markets reissued a “market perform” rating on shares of CSX in a research note on Thursday. Finally, Morgan Stanley set a $30.00 price objective on shares of CSX and gave the stock an “equal weight” rating in a report on Monday, December 8th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $39.77.

CSX Trading Up 0.8%

The stock has a 50-day moving average of $37.50 and a two-hundred day moving average of $35.77. The company has a market cap of $77.51 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81.

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

Insider Activity at CSX

In other news, CAO Diana B. Sorfleet sold 66,667 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $37.48, for a total transaction of $2,498,679.16. Following the completion of the sale, the chief accounting officer owned 170,777 shares of the company’s stock, valued at $6,400,721.96. This represents a 28.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the transaction, the executive vice president owned 82,034 shares in the company, valued at $3,170,614.10. This trade represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On CSX

Large investors have recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in CSX in the second quarter worth about $25,000. FNY Investment Advisers LLC boosted its holdings in shares of CSX by 437.3% in the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after purchasing an additional 586 shares during the period. WFA of San Diego LLC purchased a new stake in CSX during the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. boosted its stake in CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after buying an additional 729 shares during the period. Finally, CrossGen Wealth LLC bought a new position in CSX during the fourth quarter valued at $54,000. Hedge funds and other institutional investors 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.