Could CSX Corporation Gain Strenght? Option Traders Don’t Think So

 Could CSX Corporation Gain Strenght? Option Traders Don't Think So

In today’s session CSX Corporation (CSX) recorded an unusually high (3,371) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the May, 2017 put, expecting serious CSX decrease. With 3,371 contracts traded and 354 open interest for the May, 17 contract, it seems this is a quite bearish bet. The option with symbol: CSX170519P00030000 closed last at: $2.15 or 13.7% down. About 2.47M shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 23.50% since March 1, 2016 and is uptrending. It has outperformed by 14.26% the S&P500.

Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on October, 11. They expect $0.46 EPS, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.14M for 16.53 P/E if the $0.46 EPS becomes a reality. After $0.47 actual EPS reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.13% negative EPS growth.

CSX Corporation (NASDAQ:CSX) Ratings Coverage

Out of 6 analysts covering CSX Corp (NASDAQ:CSX), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $33 is the highest target while $25.0 is the lowest. The $27.90 average target is -8.28% below today’s ($30.42) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. Cowen & Co maintained CSX Corporation (NASDAQ:CSX) on Thursday, January 14 with “Market Perform” rating. The firm earned “Outperform” rating on Thursday, January 14 by RBC Capital Markets. The firm has “Buy” rating given on Tuesday, January 19 by Argus Research. The firm earned “Buy” rating on Tuesday, February 23 by Bank of America.

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.08, from 0.87 in 2016Q1. The ratio is positive, as 53 funds sold all CSX Corporation shares owned while 275 reduced positions. 64 funds bought stakes while 246 increased positions. They now own 639.14 million shares or 2.82% less from 657.68 million shares in 2016Q1.
Envestnet Asset Mngmt holds 151,007 shares or 0.02% of its portfolio. Amica Pension Fund Board Of Trustees has 0.12% invested in the company for 36,224 shares. Toronto Dominion Retail Bank owns 49,430 shares or 0.01% of their US portfolio. Everpoint Asset Mngmt Ltd Liability Corp has 89,976 shares for 0.05% of their US portfolio. Invesco holds 0.16% or 16.60M shares in its portfolio. Tci Wealth Advsrs holds 0.01% of its portfolio in CSX Corporation (NASDAQ:CSX) for 789 shares. Union Corporation last reported 23,950 shares in the company. Opus Inv Mgmt Incorporated accumulated 160,000 shares or 0.74% of the stock. Guggenheim Ltd Liability Corp accumulated 1.28 million shares or 0.11% of the stock. Tiaa Cref Trust Fsb Mo owns 55,318 shares or 0.01% of their US portfolio. The West Virginia-based Wesbanco National Bank & Trust Incorporated has invested 0.05% in CSX Corporation (NASDAQ:CSX). Peak6 Investments Ltd Partnership owns 28,475 shares or 0.01% of their US portfolio. Sumitomo Mitsui Asset Mgmt Ltd has invested 0.06% of its portfolio in CSX Corporation (NASDAQ:CSX). The Pennsylvania-based Brick And Kyle Assocs has invested 0.09% in CSX Corporation (NASDAQ:CSX). Bessemer Inc holds 0% or 8,747 shares in its portfolio.

Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 1 insider sale for $510,184 net activity. GOODEN CLARENCE W sold 17,332 shares worth $510,184.

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.71 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.62 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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