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 1.94 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 $434.12 million for 16.52 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 -8.19% below today’s ($30.39) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. Bank of America upgraded the stock to “Buy” rating in Tuesday, February 23 report. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, January 14. The stock of CSX Corporation (NASDAQ:CSX) earned “Buy” rating by Argus Research on Tuesday, January 19. On Thursday, January 14 the stock rating was maintained by Cowen & Co with “Market Perform”.

Insitutional Activity: The institutional sentiment increased to 0.95 in Q2 2016. 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.
Amf Pensionsforsakring Ab has 0.06% invested in the company for 189,300 shares. Moreover, Blackrock Institutional Na has 0.11% invested in CSX Corporation (NASDAQ:CSX) for 25.89M shares. Geneva Advsrs Limited Com owns 7,997 shares or 0% of their US portfolio. Verition Fund Management Limited last reported 0.03% of its portfolio in the stock. Whittier Trust Of Nevada Inc, a Nevada-based fund reported 1,125 shares. Wfg Advsr Lp last reported 0.05% of its portfolio in the stock. Aviva Public Limited holds 0.1% or 581,661 shares in its portfolio. Cullen Management Limited Liability Com last reported 30,450 shares in the company. Clifford Swan Counsel Lc reported 7,724 shares or 0.01% of all its holdings. The New York-based Burnham Asset Mgmt Corp Ny has invested 0.2% in CSX Corporation (NASDAQ:CSX). Tradewinds Global Llc holds 1.12% or 661,124 shares in its portfolio. Moreover, Ameriprise Finance has 0.06% invested in CSX Corporation (NASDAQ:CSX) for 3.90M shares. Sandy Spring National Bank has invested 0.03% of its portfolio in CSX Corporation (NASDAQ:CSX). Westwood Holding Group Incorporated Inc owns 8,291 shares or 0% of their US portfolio. First Manhattan Communication holds 0.02% or 117,096 shares in its portfolio.

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

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.68 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.6 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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