CSX (NASDAQ:CSX) Shares Gap Up to $31.23

CSX Co. (NASDAQ:CSXGet Rating)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $31.23, but opened at $32.88. CSX shares last traded at $30.63, with a volume of 434,118 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays boosted their target price on CSX from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, July 21st. StockNews.com upgraded CSX from a “hold” rating to a “buy” rating in a research report on Saturday, July 30th. Wells Fargo & Company decreased their price objective on CSX from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Stifel Nicolaus upgraded CSX from a “hold” rating to a “buy” rating and decreased their price objective for the company from $39.00 to $37.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Finally, Evercore ISI decreased their price objective on CSX from $37.00 to $35.00 in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $36.33.

CSX Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.22. The firm has a market cap of $63.15 billion, a P/E ratio of 16.57, a PEG ratio of 1.63 and a beta of 1.21. The firm has a 50-day simple moving average of $31.88 and a 200-day simple moving average of $32.78.

CSX (NASDAQ:CSXGet Rating) last announced its earnings results on Wednesday, July 20th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. As a group, analysts forecast that CSX Co. will post 1.89 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. CSX’s dividend payout ratio is presently 22.47%.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. MAI Capital Management lifted its holdings in shares of CSX by 19.7% during the 4th quarter. MAI Capital Management now owns 35,392 shares of the transportation company’s stock valued at $1,331,000 after purchasing an additional 5,819 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in CSX by 30.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,350,020 shares of the transportation company’s stock worth $50,762,000 after acquiring an additional 311,320 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in CSX by 19.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 341,660 shares of the transportation company’s stock worth $12,846,000 after acquiring an additional 54,512 shares during the last quarter. Level Four Advisory Services LLC raised its stake in CSX by 31.4% in the 4th quarter. Level Four Advisory Services LLC now owns 9,989 shares of the transportation company’s stock worth $376,000 after acquiring an additional 2,388 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new position in CSX in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

CSX Company Profile

(Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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