CSX (NASDAQ:CSX) Hits New 12-Month High – Here’s What Happened

CSX Corporation (NASDAQ:CSX)’s stock price hit a new 52-week high on Monday . The company traded as high as $40.78 and last traded at $40.8150, with a volume of 4096871 shares. The stock had previously closed at $40.61.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Rothschild & Co Redburn boosted their target price on shares of CSX from $39.00 to $42.50 and gave the company a “buy” rating in a research note on Friday, January 30th. UBS Group set a $45.00 price target on shares of CSX and gave the stock a “buy” rating in a report on Friday, October 17th. Evercore reduced their price objective on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. JPMorgan Chase & Co. lowered their target price on CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group increased their price target on CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.77.

CSX Stock Performance

The company has a 50-day moving average price of $36.71 and a two-hundred day moving average price of $35.46. The company has a market capitalization of $75.83 billion, a PE ratio of 26.44, a PEG ratio of 2.07 and a beta of 1.30. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 22nd. The transportation company reported $0.39 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 company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president directly owned 82,034 shares in the company, valued at $3,170,614.10. The trade was a 27.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Diana B. Sorfleet sold 66,667 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $37.48, for a total value of $2,498,679.16. Following the completion of the sale, the chief accounting officer owned 170,777 shares in the company, valued at $6,400,721.96. This trade represents a 28.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingswood Wealth Advisors LLC raised its holdings in shares of CSX by 4.1% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after buying an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in CSX by 2.7% during the third quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock valued at $463,000 after acquiring an additional 339 shares during the last quarter. Gleason Group Inc. raised its stake in shares of CSX by 19.1% during the fourth quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company’s stock worth $96,000 after acquiring an additional 425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of CSX by 0.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock worth $2,660,000 after acquiring an additional 510 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its position in CSX by 7.3% in the 3rd quarter. Crestwood Advisors Group LLC now owns 7,800 shares of the transportation company’s stock worth $277,000 after purchasing an additional 532 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Company Profile

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.