CSX (NASDAQ:CSX) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

CSX Corporation (NASDAQ:CSX) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $48.36 and traded as high as $51.09. CSX shares last traded at $51.03, with a volume of 14,453,018 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CSX shares. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Benchmark reissued a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price target on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Robert W. Baird lifted their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

CSX Stock Up 2.4%

The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The firm has a market cap of $94.53 billion, a PE ratio of 29.50, a P/E/G ratio of 2.29 and a beta of 1.21. The firm’s 50 day moving average is $48.36 and its 200-day moving average is $43.95.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, equities research analysts expect that CSX Corporation will post 1.99 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is 32.37%.

Insiders Place Their Bets

In related news, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total transaction of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the completion of the sale, the chief accounting officer directly owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,708 shares of company stock worth $9,132,304 in the last three months. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several hedge funds have recently modified their holdings of the stock. Pinebridge Investments LLC purchased a new stake in CSX in the fourth quarter valued at approximately $5,979,000. Cohen & Steers Inc. increased its position in CSX by 1.2% during the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after purchasing an additional 98,977 shares during the last quarter. Allstate Corp raised its stake in CSX by 105.7% during the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock worth $4,962,000 after purchasing an additional 70,326 shares during the period. Farther Finance Advisors LLC raised its stake in CSX by 159.5% during the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock worth $2,661,000 after purchasing an additional 45,116 shares during the period. Finally, KTF Investments LLC acquired a new position in shares of CSX in the 4th quarter valued at $1,325,000. 73.57% of the stock is 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.