Brokerages Set CSX Corporation (NASDAQ:CSX) PT at $51.31

Shares of CSX Corporation (NASDAQ:CSX) have earned a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.3148.

A number of research analysts have recently commented on the company. Benchmark reissued a “buy” rating and set a $54.00 price target (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Robert W. Baird upped their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Stephens started coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 target price for the company. Truist Financial set a $46.00 target price on shares of CSX in a research note on Friday, July 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd.

Insiders Place Their Bets

In other news, SVP Michael Burns sold 13,000 shares of CSX stock in a transaction on 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 trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angela Williams sold 30,000 shares of the business’s stock in a transaction on 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 $556,187.73. This represents a 74.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Archer Investment Corp bought a new stake in shares of CSX in the 2nd quarter worth about $26,000. N.E.W. Advisory Services LLC bought a new position in CSX during the 2nd quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in CSX in the second quarter valued at about $29,000. Manning & Napier Advisors LLC bought a new stake in CSX during the second quarter worth about $30,000. Finally, Arlington Trust Co LLC increased its holdings in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after buying an additional 250 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of NASDAQ CSX opened at $48.91 on Friday. CSX has a 12-month low of $32.18 and a 12-month high of $53.60. The company has a market cap of $90.60 billion, a PE ratio of 28.27, a P/E/G ratio of 2.30 and a beta of 1.21. The stock has a 50 day simple moving average of $50.23 and a 200-day simple moving average of $46.20. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that CSX will post 2 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

CSX Company Profile

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.