CSX Corporation’s Trend Down, Especially After This Options Activity


 CSX Corporation's Trend Down, Especially After This Options Activity

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 2.71 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 EPS, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.13 million 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 -8.25% below today’s ($30.41) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Thursday, January 14 by RBC Capital Markets. Cowen & Co maintained it with “Market Perform” rating and $25.0 target price in Thursday, January 14 report. Argus Research maintained CSX Corporation (NASDAQ:CSX) rating on Tuesday, January 19. Argus Research has “Buy” rating and $28.0 price target. Bank of America upgraded it to “Buy” rating and $28 target price in Tuesday, February 23 report.

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.
First Niagara Retail Bank has 33,700 shares for 0.25% of their US portfolio. Pitcairn has 13,835 shares for 0.05% of their US portfolio. Hoertkorn Richard Charles owns 400 shares or 0.01% of their US portfolio. Pacific Glob Invest accumulated 24,816 shares or 0.15% of the stock. Pioneer Inv accumulated 3.29M shares or 0.31% of the stock. Oxbow Advsr Ltd accumulated 146,140 shares or 0.55% of the stock. Godshalk Welsh Capital Mngmt has invested 0.39% of its portfolio in CSX Corporation (NASDAQ:CSX). Jacobs Levy Equity holds 0.01% of its portfolio in CSX Corporation (NASDAQ:CSX) for 18,710 shares. Vaughan David Invests Il holds 14,720 shares or 0.02% of its portfolio. Glob X Mngmt Limited Liability Company, a New York-based fund reported 1,132 shares. First Lp holds 0.07% of its portfolio in CSX Corporation (NASDAQ:CSX) for 828,947 shares. The Virginia-based Lowe Brockenbrough And has invested 0.07% in CSX Corporation (NASDAQ:CSX). Balyasny Asset Mngmt Ltd Liability holds 60,916 shares or 0.01% of its portfolio. Fishman Jay A Mi accumulated 11,924 shares or 0% of the stock. Leavell Investment Management Inc reported 11,097 shares or 0.04% of all its holdings.

Insider Transactions: Since September 26, 2016, the stock had 0 insider purchases, and 1 sale for $510,184 net activity. On Monday, September 26 the insider GOODEN CLARENCE W sold $510,184.

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.70 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.61 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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