CSX (NASDAQ:CSX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CSX (NASDAQ:CSX) had its price objective hoisted by JPMorgan Chase & Co. from $41.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 23.12% from the stock’s current price.

CSX has been the subject of several other reports. Robert W. Baird set a $40.00 price objective on CSX and gave the stock an “outperform” rating in a report on Monday, October 20th. Susquehanna cut their price target on CSX from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, September 25th. Raymond James Financial reissued an “outperform” rating and issued a $40.00 price target (up previously from $39.00) on shares of CSX in a research note on Friday, October 17th. Wolfe Research increased their price objective on CSX from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, UBS Group set a $45.00 target price on shares of CSX and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.96.

CSX Stock Down 0.8%

NASDAQ:CSX traded down $0.28 on Monday, hitting $34.93. 3,823,565 shares of the company’s stock traded hands, compared to its average volume of 13,843,621. The company has a market cap of $65.04 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.75 and a beta of 1.30. CSX has a 1 year low of $26.22 and a 1 year high of $37.54. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $35.74 and a 200-day moving average price of $34.94.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at CSX

In other news, CEO Stephen F. Angel bought 55,000 shares of the business’s stock in a transaction on Monday, October 20th. The stock was purchased at an average price of $36.87 per share, with a total value of $2,027,850.00. Following the transaction, the chief executive officer directly owned 58,234 shares in the company, valued at approximately $2,147,087.58. The trade was a 1,700.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin S. Boone sold 31,053 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total value of $1,120,702.77. Following the completion of the sale, the executive vice president directly owned 197,521 shares in the company, valued at approximately $7,128,532.89. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of CSX in the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC grew its position in CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC bought a new stake in CSX in the second quarter valued at $28,000. Pinnacle Bancorp Inc. raised 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 acquiring an additional 729 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new position in shares of CSX during the fourth quarter valued at $63,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.