What’s in CSX Corporation After Today’s Bearish Options Activity?

 What's in CSX Corporation After Today's Bearish 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 4.66 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 $434.23M for 16.40 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 -7.55% below today’s ($30.18) 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) has “Outperform” rating given on Thursday, January 14 by RBC Capital Markets. The stock of CSX Corporation (NASDAQ:CSX) has “Buy” rating given on Tuesday, January 19 by Argus Research. The company was maintained on Thursday, January 14 by Cowen & Co. On Tuesday, February 23 the stock rating was upgraded by Bank of America to “Buy”.

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.08, from 0.87 in 2016Q1. The ratio improved, 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.
Moreover, Lynch And Associate In has 0.56% invested in CSX Corporation (NASDAQ:CSX) for 47,814 shares. Moreover, Princeton Port Strategies Gru Lc has 0.23% invested in CSX Corporation (NASDAQ:CSX) for 26,925 shares. Geode Lc holds 0.11% of its portfolio in CSX Corporation (NASDAQ:CSX) for 7.89 million shares. Royal London Asset Mgmt Limited last reported 609,368 shares in the company. Country Bank & Trust reported 7,955 shares or 0.01% of all its holdings. First Financial In owns 500 shares or 0.01% of their US portfolio. Raymond James Fincl Services accumulated 0.03% or 123,779 shares. Pioneer Tru Savings Bank N A Or holds 0.15% of its portfolio in CSX Corporation (NASDAQ:CSX) for 9,195 shares. Cubist Systematic Strategies Lc accumulated 44,164 shares or 0.07% of the stock. Moreover, Sg Americas Llc has 0.01% invested in CSX Corporation (NASDAQ:CSX) for 66,063 shares. 3G Prtn L P holds 731,797 shares or 1.51% of its portfolio. Lodestar Invest Counsel Limited Liability Company Il has 179,845 shares for 0.67% of their US portfolio. Asset Advisors Corp holds 4,932 shares or 0.03% of its portfolio. Pinnacle Associates holds 16,216 shares or 0.01% of its portfolio. Adirondack Trust last reported 8,095 shares in the company.

Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 1 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 $28.48 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.49 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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