CSX (NASDAQ:CSX) Hits New 12-Month High – Still a Buy?

CSX Corporation (NASDAQ:CSX) shares reached a new 52-week high on Tuesday . The stock traded as high as $37.54 and last traded at $37.18, with a volume of 19985918 shares traded. The stock had previously closed at $37.39.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of recent research reports. Evercore ISI reissued an “outperform” rating and set a $39.00 price objective (up previously from $37.00) on shares of CSX in a research report on Friday, October 17th. Royal Bank Of Canada boosted their price target on CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Barclays reaffirmed an “overweight” rating on shares of CSX in a research note on Monday, October 20th. JPMorgan Chase & Co. boosted their price objective on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Robert W. Baird set a $40.00 price target on shares of CSX and gave the company an “outperform” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

CSX Trading Down 0.8%

The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The company has a market capitalization of $67.97 billion, a PE ratio of 23.86, a PEG ratio of 3.32 and a beta of 1.30. The stock has a fifty day moving average of $35.64 and a 200 day moving average of $34.44.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 20.55% and a return on equity of 24.95%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. CSX’s dividend payout ratio is 33.99%.

Insider Activity

In other news, SVP Michael S. Burns sold 24,249 shares of CSX stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $36.76, for a total value of $891,393.24. Following the sale, the senior vice president directly owned 51,640 shares of the company’s stock, valued at approximately $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin S. Boone sold 31,053 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total value of $1,120,702.77. Following the transaction, the executive vice president owned 197,521 shares of the company’s stock, valued at $7,128,532.89. This represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CSX. Twin Peaks Wealth Advisors LLC bought a new position in CSX in the 2nd quarter worth about $25,000. FNY Investment Advisers LLC grew its holdings 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 purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC purchased a new position in CSX during the 2nd quarter worth $28,000. Pinnacle Bancorp Inc. raised its stake in CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after buying an additional 729 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in CSX in the third quarter worth about $67,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.