Stock On Watch: After Making 52-Week High, Is CSX Corporation’s Near-Term Analysis Positive?

Stock On Watch: After Making 52 Week High, Is CSX Corporation's Near Term Analysis Positive?

The stock of CSX Corporation (NASDAQ:CSX) hit a new 52-week high and has $43.81 target or 37.00% above today’s $31.98 share price. The 9 months bullish chart indicates low risk for the $30.28B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $43.81 price target is reached, the company will be worth $11.20B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 5.66M 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. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Market Perform” rating in Thursday, January 14 report. The stock has “Buy” rating given by Bank of America on Tuesday, February 23. On Thursday, January 14 the stock rating was maintained by RBC Capital Markets with “Outperform”. The company was maintained on Tuesday, January 19 by Argus Research.

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 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.
Pictet Asset Mngmt Ltd accumulated 0.42% or 4.06 million shares. Lodestar Investment Counsel Lc Il, a Illinois-based fund reported 179,845 shares. Mark Sheptoff Fincl Planning Limited owns 7,350 shares or 0.14% of their US portfolio. Peak6 Invests Lp, a Illinois-based fund reported 28,475 shares. Linscomb Williams, a Texas-based fund reported 8,108 shares. Moreover, Advisory Service has 0.07% invested in CSX Corporation (NASDAQ:CSX) for 14,791 shares. Cullinan Associates Incorporated reported 77,824 shares or 0.17% of all its holdings. Goelzer Mngmt has 0.47% invested in the company for 129,529 shares. Moreover, Schafer Cullen Cap Mngmt Inc has 0.01% invested in CSX Corporation (NASDAQ:CSX) for 19,020 shares. Lenox Wealth reported 1,795 shares or 0.03% of all its holdings. Mercer Advisers reported 33,115 shares or 0.71% of all its holdings. Moreover, Breithorn Capital Mgmt has 0.34% invested in CSX Corporation (NASDAQ:CSX) for 17,160 shares. Tru Of Vermont has 23,710 shares for 0.08% of their US portfolio. The Ohio-based Keybank Natl Association Oh has invested 0.05% in CSX Corporation (NASDAQ:CSX). Gideon Capital Advsr Inc holds 0.75% of its portfolio in CSX Corporation (NASDAQ:CSX) for 49,475 shares.

Insider Transactions: Since September 26, 2016, the stock had 0 insider purchases, and 3 selling transactions for $10.30 million net activity. 17,332 shares were sold by GOODEN CLARENCE W, worth $510,184. WARD MICHAEL J sold $9.29M worth of CSX Corporation (NASDAQ:CSX) on Monday, October 17.

More recent CSX Corporation (NASDAQ:CSX) news were published by: Seekingalpha.com which released: “CSX Remains A Sell” on November 04, 2016. Also Globenewswire.com published the news titled: “CSX Corporation Announces Third Quarter Earnings” on October 12, 2016. Investorplace.com‘s news article titled: “Why CSX Corporation (CSX), Ocular Therapeutix Inc (OCUL), and Ulta Salon …” with publication date: October 13, 2016 was also an interesting one.

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.

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