CSX (NASDAQ:CSX) Price Target Raised to $60.00

CSX (NASDAQ:CSX) had its price objective boosted by Susquehanna from $55.00 to $60.00 in a research note released on Tuesday,Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

CSX has been the topic of a number of other research reports. Citizens Jmp initiated coverage on shares of CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Robert W. Baird raised their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Citigroup reaffirmed a “neutral” rating and issued a $54.00 price objective (up from $53.00) on shares of CSX in a research note on Friday, October 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of CSX in a research report on Thursday, October 22nd. Finally, Stifel Nicolaus set a $54.00 target price on shares of CSX in a research note on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.20.

CSX Price Performance

NASDAQ CSX opened at $52.24 on Tuesday. The stock’s 50-day moving average price is $48.84 and its two-hundred day moving average price is $45.43. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The company has a market cap of $96.30 billion, a PE ratio of 27.07, a PEG ratio of 2.29 and a beta of 1.21. CSX has a 1 year low of $33.63 and a 1 year high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts predict that CSX will post 2.04 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.14 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio is presently 29.02%.

Insider Activity

In other CSX news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction on Monday, October 26th. The shares were sold at an average price of $51.24, for a total transaction of $999,180.00. Following the completion of the sale, the director owned 334,214 shares of the company’s stock, valued at $17,125,125.36. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Institutional Trading of CSX

Hedge funds and other institutional investors have recently modified their holdings of the company. Evolve Private Wealth LLC acquired a new stake in CSX in the 2nd quarter valued at approximately $693,000. M. Kulyk & Associates LLC bought a new position in CSX in the 2nd quarter worth approximately $8,145,000. Wealthfront Advisers LLC acquired a new position in shares of CSX during the second quarter worth approximately $7,609,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of CSX during the second quarter worth approximately $6,598,000. Finally, First National Bank of Omaha acquired a new position in shares of CSX during the second quarter worth approximately $6,248,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX’s latest quarterly results beat expectations, with earnings per share of $0.57 versus the $0.53 consensus estimate and revenue of $4.02 billion versus $3.96 billion expected. Revenue rose 12% year over year, providing a fundamental reason for continued investor support.
• Positive Sentiment: Susquehanna reportedly raised its price target for CSX from $55 to $60 while maintaining a positive view. JPMorgan and RBC have also issued favorable ratings and higher targets, reinforcing the bullish analyst backdrop. CSX Stock Price Expected to Rise, Susquehanna Analyst Says
• Positive Sentiment: CSX said operations are returning to normal after a technology systems outage, reducing concerns that the disruption will cause prolonged service or revenue damage. CSX Operations Returning to Normal After Technology Systems Outage
• Neutral Sentiment: CSX scheduled railroad-crossing closures for maintenance or other work. The closures could temporarily affect local traffic and operations but are not necessarily material to the company’s financial results. CSX Schedules Railroad Crossing Closures
• Negative Sentiment: A technology outage halted or slowed Class I freight interchanges and disrupted intermodal activity. Although safety systems reportedly remained operational and the company ruled out a cyberattack, the incident raises near-term risks to shipment volumes, service reliability and customer relationships. CSX Tech Outage Halts Class I Interchanges
• Negative Sentiment: A reported data breach exposed employee information, adding reputational, compliance and potential remediation costs, even though the operational outage was not attributed to a cyberattack. CSX Data Breach Exposes Employee Information
• Negative Sentiment: Director John Zillmer sold 19,500 CSX shares for approximately $999,180, reducing his direct holdings by 5.51%. The sale is a modest negative sentiment signal, although he retains a substantial position.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.