TD Cowen Increases CSX (NASDAQ:CSX) Price Target to $40.00

CSX (NASDAQ:CSX) had its price target boosted by investment analysts at TD Cowen from $39.00 to $40.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s target price would indicate a potential upside of 10.19% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of CSX from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. Stephens increased their price target on shares of CSX from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Robert W. Baird set a $40.00 price target on shares of CSX and gave the stock an “outperform” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CSX in a research note on Monday, December 29th. Finally, Susquehanna cut their target price on CSX from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given 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 $39.13.

CSX Stock Performance

Shares of NASDAQ:CSX traded up $0.12 during trading on Monday, hitting $36.30. 11,665,039 shares of the stock were exchanged, compared to its average volume of 14,969,737. The company has a market capitalization of $67.60 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.81 and a beta of 1.30. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. CSX has a 1-year low of $26.22 and a 1-year high of $37.54. The company’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $34.99.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.60 billion. CSX had a return on equity of 24.95% and a net margin of 20.55%.CSX’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. Sell-side analysts expect that CSX will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Michael S. Burns sold 24,249 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the transaction, the senior vice president owned 51,640 shares in the company, valued at $1,898,286.40. This represents a 31.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the sale, the executive vice president directly owned 197,521 shares in the company, valued at approximately $7,128,532.89. This represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.55% of the company’s stock.

Institutional Trading of CSX

Hedge funds have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new position in CSX in the 2nd quarter valued at $25,000. FNY Investment Advisers LLC lifted its stake in shares of CSX by 437.3% during the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the period. WFA of San Diego LLC acquired a new position in shares of CSX during the second quarter valued at $28,000. Pinnacle Bancorp Inc. boosted its holdings 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 acquiring an additional 729 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in CSX in the fourth quarter worth about $63,000. 73.57% of the stock is owned by 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.