Stock On Watch: What Will Happen to CSX Corporation Next? The Stock Just Reaches 52-Week High

Stock On Watch: What Will Happen to CSX Corporation Next? The Stock Just Reaches 52 Week High

The stock of CSX Corporation (NASDAQ:CSX) hit a new 52-week high and has $36.37 target or 4.00% above today’s $34.97 share price. The 9 months bullish chart indicates low risk for the $33.14 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $36.37 price target is reached, the company will be worth $1.33B 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 2.61 million shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 30.67% since April 21, 2016 and is uptrending. It has outperformed by 25.34% the S&P500.

Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on January, 10. They expect $0.47 EPS, down 2.08% or $0.01 from last year’s $0.48 per share. CSX’s profit will be $445.40M for 18.60 P/E if the $0.47 EPS becomes a reality. After $0.48 actual EPS reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.08% 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. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. The rating was upgraded by Bank of America on Tuesday, February 23 to “Buy”. Cowen & Co maintained CSX Corporation (NASDAQ:CSX) rating on Thursday, January 14. Cowen & Co has “Market Perform” rating and $25.0 price target. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, January 14. Argus Research maintained CSX Corporation (NASDAQ:CSX) on Tuesday, January 19 with “Buy” rating.

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 decreased to 0.94 in 2016 Q2. Its down 0.01, from 0.95 in 2016Q1. The ratio dived, 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.
Cap Advsrs Ok last reported 266,104 shares in the company. Luminus Management Limited Liability Corporation accumulated 3.59M shares or 2.7% of the stock. Tci Wealth Inc accumulated 789 shares or 0.01% of the stock. Peak6 L P last reported 0.01% of its portfolio in the stock. Ameriprise Incorporated owns 3.90 million shares or 0.06% of their US portfolio. Old Second Fincl Bank Of Aurora reported 2,711 shares or 0.03% of all its holdings. Blackrock Limited Liability Corp holds 1.88 million shares or 0.06% of its portfolio. Livforsakringsbolaget Skandia Omsesidigt accumulated 0.13% or 116,265 shares. Endurance Wealth Management has 0% invested in the company for 650 shares. Raymond James & Associates has 339,608 shares for 0.03% of their US portfolio. Bedrijfstakpensioenfonds Voor De Media Pno holds 28,600 shares or 0.1% of its portfolio. Earnest Prns Limited Liability Corp holds 1.14M shares or 0.32% of its portfolio. Fayez Sarofim And Communications accumulated 22,000 shares or 0% of the stock. Integral Derivatives Limited Liability Company has 10,151 shares for 0.01% of their US portfolio. Aqr Cap Mngmt Ltd Llc has 2.87 million shares for 0.13% of their US portfolio.

Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 4 sales for $10.80 million net activity. GOODEN CLARENCE W sold $510,184 worth of stock. 300,000 CSX Corporation (NASDAQ:CSX) shares with value of $9.29 million were sold by WARD MICHAEL J.

More news for CSX Corporation (NASDAQ:CSX) were recently published by: Globenewswire.com, which released: “CSX Corporation Chief Financial Officer to Address Credit Suisse 4th Annual …” on November 21, 2016. Equitiesfocus.com‘s article titled: “CSX Corporation (NYSE:CSX) To Disburse Dividend Of $0.18” and published on November 23, 2016 is yet another important article.

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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