Could CSX Corporation Increase After Today’s Tip From Option Traders?

 Could CSX Corporation Increase After Today's Tip From Option Traders?

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 2.93 million 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 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.23M for 16.49 P/E if the $0.46 EPS becomes a reality. After $0.47 actual earnings per share 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 -8.04% below today’s ($30.34) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. The stock of CSX Corporation (NASDAQ:CSX) earned “Buy” rating by Argus Research on Tuesday, January 19. The firm earned “Outperform” rating on Thursday, January 14 by RBC Capital Markets. The firm earned “Buy” rating on Tuesday, February 23 by Bank of America. The firm earned “Market Perform” rating on Thursday, January 14 by Cowen & Co.

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.08, from 0.87 in 2016Q1. The ratio increased, 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.
Davenport Communications Lc last reported 77,498 shares in the company. Mycio Wealth Partners Limited Liability Corporation has 0.05% invested in the company for 10,628 shares. Seven Eight Capital Limited Co has 27,433 shares for 0.25% of their US portfolio. Chevy Chase Trust Inc owns 867,658 shares or 0.13% of their US portfolio. Pillar Pacific Cap Mngmt Ltd last reported 0.9% of its portfolio in the stock. Delta Lloyd Nv owns 66,845 shares or 0.06% of their US portfolio. Calamos Advisors Ltd Liability Corporation last reported 0.51% of its portfolio in the stock. Mckinley Carter Wealth Svcs holds 7,738 shares or 0.11% of its portfolio. Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems has 76,534 shares for 0.04% of their US portfolio. Amf Pensionsforsakring has invested 0.06% of its portfolio in CSX Corporation (NASDAQ:CSX). Carnegie Asset Mngmt Limited Liability holds 1.13% or 282,536 shares in its portfolio. Capital Advsrs Limited Liability Corp holds 0.02% of its portfolio in CSX Corporation (NASDAQ:CSX) for 9,082 shares. Martingale Asset Mgmt L P last reported 0.01% of its portfolio in the stock. Moreover, Raymond James Assoc has 0.03% invested in CSX Corporation (NASDAQ:CSX) for 339,608 shares. Neville Rodie And Shaw Inc has invested 0.07% of its portfolio in CSX Corporation (NASDAQ:CSX).

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

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.64 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.58 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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