JPMorgan Chase & Co. Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.94% from the company’s previous close.

Other research analysts have also issued reports about the stock. BMO Capital Markets dropped their price objective on shares of CSX from $41.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, April 2nd. Royal Bank Of Canada lifted their price objective on shares of CSX from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 26th. TD Cowen restated a “buy” rating on shares of CSX in a research note on Monday, January 12th. Stephens lifted their price objective on shares of CSX from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Sanford C. Bernstein lifted their price objective on shares of CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.44.

CSX Stock Performance

Shares of CSX stock opened at $41.20 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. CSX has a 52 week low of $26.29 and a 52 week high of $43.35. The stock has a market capitalization of $76.66 billion, a PE ratio of 26.76, a P/E/G ratio of 2.29 and a beta of 1.25. The firm has a 50 day moving average of $40.43 and a two-hundred day moving average of $37.36.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (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 firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm posted $0.42 earnings per share. CSX’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other CSX news, CEO Stephen F. Angel purchased 25,000 shares of CSX stock in a transaction on Friday, March 6th. The shares were bought at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Fortune sold 31,456 shares of the company’s stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 188,123 shares of company stock valued at $7,454,854. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Syon Capital LLC grew its position in shares of CSX by 1.0% in the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares in the last quarter. Root Financial Partners LLC grew its position in shares of CSX by 7.3% in the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after acquiring an additional 323 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of CSX by 4.1% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock worth $296,000 after acquiring an additional 331 shares in the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of CSX by 2.7% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock valued at $463,000 after buying an additional 339 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC boosted its holdings in shares of CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.