Short Interest in CSX Corporation (CSX) Drops By 12.7%
CSX Corporation (NASDAQ:CSX) saw a large decrease in short interest in December. As of December 30th, there was short interest totalling 14,232,616 shares, a decrease of 12.7% from the December 15th total of 16,311,659 shares. Based on an average trading volume of 4,771,874 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.5% of the company’s stock are sold short.
Shares of CSX Corporation (NASDAQ:CSX) opened at 38.80 on Friday. CSX Corporation has a 1-year low of $21.33 and a 1-year high of $38.82. The firm has a market cap of $36.34 billion, a P/E ratio of 21.59 and a beta of 1.17. The firm has a 50 day moving average price of $36.21 and a 200 day moving average price of $30.85.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. CSX Corporation had a net margin of 15.93% and a return on equity of 14.79%. The company had revenue of $2.71 billion for the quarter. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. Analysts anticipate that CSX Corporation will post $1.81 EPS for the current year.
In related news, President Clarence W. Gooden sold 28,587 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $36.92, for a total transaction of $1,055,432.04. Following the completion of the transaction, the president now owns 56,091 shares of the company’s stock, valued at approximately $2,070,879.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael J. Ward sold 300,000 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $30.97, for a total value of $9,291,000.00. Following the transaction, the chairman now directly owns 198,742 shares of the company’s stock, valued at approximately $6,155,039.74. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Washington Trust Bank boosted its stake in shares of CSX Corporation by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock worth $111,000 after buying an additional 259 shares during the period. Brick & Kyle Associates boosted its stake in shares of CSX Corporation by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the period. Community Bank N.A. boosted its stake in shares of CSX Corporation by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock worth $132,000 after buying an additional 715 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of CSX Corporation during the second quarter worth approximately $117,000. Finally, Integrated Wealth Counsel LLC purchased a new stake in shares of CSX Corporation during the third quarter worth approximately $183,000. 68.86% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the company. RBC Capital Markets reissued a “buy” rating on shares of CSX Corporation in a research report on Friday, January 6th. Vetr raised CSX Corporation from a “sell” rating to a “hold” rating and set a $36.33 price target for the company in a report on Tuesday, December 20th. Zacks Investment Research cut CSX Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, December 6th. Bank of America reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX Corporation in a report on Thursday, December 1st. Finally, BMO Capital Markets cut CSX Corporation from an “outperform” rating to a “market perform” rating and upped their price target for the company from $34.00 to $35.00 in a report on Thursday, November 10th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. CSX Corporation presently has an average rating of “Hold” and a consensus price target of $31.05.
CSX Corporation Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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