Can CSX Corporation’s Tomorrow Be Different? Option Trader Are Very Bearish

 Can CSX Corporation's Tomorrow Be Different? Option Trader Are Very Bearish

In today’s session CSX Corporation (CSX) recorded an unusually high (1,143) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CSX decrease. With 1,143 contracts traded and 49354 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CSX161118P00031000 closed last at: $0.68 or 13.9% down. About 1.65M shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 23.43% since April 5, 2016 and is uptrending. It has outperformed by 21.48% the S&P500.

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 -12.32% below today’s ($31.82) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. The company was upgraded on Tuesday, February 23 by Bank of America. On Thursday, January 14 the stock rating was maintained by Cowen & Co with “Market Perform”. The stock of CSX Corporation (NASDAQ:CSX) earned “Outperform” rating by RBC Capital Markets on Thursday, January 14. On Tuesday, January 19 the stock rating was maintained by Argus Research with “Buy”.

According to Zacks Investment Research, “CSX Corporation’s unique combination of rail, container-shipping, intermodal and logistics services provides global reach that’s second to none. The company’s goal, advanced at each of its business units, is to provide efficient, competitive transportation and related services for customers.”

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.
Dekabank Deutsche Girozentrale holds 79,016 shares or 0.02% of its portfolio. Highbridge Mngmt Limited owns 9,825 shares or 0% of their US portfolio. Pettyjohn Wood White last reported 0.17% of its portfolio in the stock. Appleton Inc Ma reported 9,848 shares or 0.05% of all its holdings. Us State Bank De reported 814,521 shares or 0.08% of all its holdings. The Nebraska-based Pittenger Anderson Inc has invested 0.26% in CSX Corporation (NASDAQ:CSX). Amp Investors Limited reported 621,451 shares or 0.11% of all its holdings. Grandfield Dodd Ltd, a New York-based fund reported 12,544 shares. Goelzer Invest Mgmt Inc holds 0.47% or 129,529 shares in its portfolio. Tokio Marine Asset holds 26,739 shares or 0.07% of its portfolio. Balyasny Asset Ltd Limited Liability Company has 0.01% invested in the company for 60,916 shares. Northstar Group Inc reported 9,008 shares or 0.17% of all its holdings. Invesco Limited has invested 0.16% of its portfolio in CSX Corporation (NASDAQ:CSX). Secor Advisors Limited Partnership, a New York-based fund reported 51,278 shares. Pacad Inv has 0.13% invested in the company for 36,603 shares.

Insider Transactions: Since September 26, 2016, the stock had 0 buys, and 3 insider sales for $10.30 million net activity. Shares for $510,184 were sold by GOODEN CLARENCE W on Monday, September 26. WARD MICHAEL J sold $9.29 million worth of CSX Corporation (NASDAQ:CSX) on Monday, October 17.

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $30.13 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 17.71 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

CSX Company Profile

CSX Corporation, together with its subsidiaries, incorporated on November 15, 1978, is a transportation company. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. The Firm serves approximately three lines of business, such as merchandise business, coal business and intermodal business. The Company’s operating subsidiary, CSX Transportation, Inc. (CSXT), provides a link to the transportation supply chain through its approximately 21,000-route mile rail network, which serves population centers in approximately 20 states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. It has access to over 70 ocean, river and lake port terminals along the Atlantic and Gulf Coasts, the Mississippi River, the Great Lakes and the St. Lawrence Seaway. The Company’s intermodal business links clients to railroads through trucks and terminals. CSXT also serves production and distribution facilities through track connections to approximately 240 short-line and regional railroads.

More notable recent CSX Corporation (NASDAQ:CSX) news were published by: Seekingalpha.com which released: “CSX Remains A Sell” on November 04, 2016, also Globenewswire.com with their article: “CSX Corporation Announces Third Quarter Earnings” published on October 12, 2016, Investorplace.com published: “Why CSX Corporation (CSX), Ocular Therapeutix Inc (OCUL), and Ulta Salon …” on October 13, 2016. More interesting news about CSX Corporation (NASDAQ:CSX) were released by: Etfdailynews.com and their article: “Two CSX Trains Collide Head On In Chester, Pennsylvania” published on October 28, 2016 as well as Seekingalpha.com‘s news article titled: “CSX Corp. – Risk/Reward Not Appealing At This Point” with publication date: October 14, 2016.

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