CSX (NASDAQ:CSX) Cut to “In-Line” at Evercore

CSX (NASDAQ:CSX) was downgraded by investment analysts at Evercore from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Thursday,Finviz reports. They presently have a $41.00 target price on the transportation company’s stock. Evercore’s price objective indicates a potential upside of 3.43% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research lifted their price objective on shares of CSX from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Argus raised their target price on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CSX in a report on Monday, December 29th. Susquehanna reiterated a “neutral” rating and issued a $39.00 price target on shares of CSX in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $36.00 price objective (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.48.

CSX Stock Performance

NASDAQ:CSX opened at $39.64 on Thursday. The stock has a 50-day moving average price of $39.41 and a 200 day moving average price of $36.65. The stock has a market capitalization of $73.71 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.06 and a beta of 1.27. CSX has a 12-month low of $26.22 and a 12-month high of $43.35. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CSX had a return on equity of 23.88% and a net margin of 20.50%.The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $1,215,774.40. Following the sale, the executive vice president owned 82,034 shares in the company, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen F. Angel purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This represents a 20.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 188,123 shares of company stock worth $7,454,854. Insiders own 0.55% of the company’s stock.

Institutional Trading of CSX

Several hedge funds have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter valued at about $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 worth $25,000 after acquiring an additional 586 shares in the last quarter. WFA of San Diego LLC bought a new stake in CSX during the second quarter worth approximately $28,000. Pinnacle Bancorp Inc. raised its position in CSX by 121.5% during the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 729 shares during the period. Finally, CrossGen Wealth LLC purchased a new stake in CSX during the fourth quarter valued at approximately $54,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.