The stock of CSX Corporation (NASDAQ:CSX) hit a new 52-week high and has $36.90 target or 3.00% above today’s $35.83 share price. The 8 months bullish chart indicates low risk for the $33.69 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $36.90 price target is reached, the company will be worth $1.01 billion 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 1.68M shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 25.04% since April 27, 2016 and is uptrending. It has outperformed by 19.82% the S&P500.
Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on January, 10. They expect $0.47 earnings per share, down 2.08% or $0.01 from last year’s $0.48 per share. CSX’s profit will be $441.93 million for 19.06 P/E if the $0.47 EPS becomes a reality. After $0.48 actual earnings per share 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. $33 is the highest target while $25.0 is the lowest. The $27.90 average target is -22.13% below today’s ($35.83) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. RBC Capital Markets maintained CSX Corporation (NASDAQ:CSX) rating on Thursday, January 14. RBC Capital Markets has “Outperform” rating and $27.0 price target. The firm has “Market Perform” rating given on Thursday, January 14 by Cowen & Co. The firm has “Buy” rating by Argus Research given on Tuesday, January 19. The rating was upgraded by Bank of America to “Buy” on Tuesday, February 23.
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 worsened, 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.
Envestnet Asset, a Illinois-based fund reported 151,007 shares. Park Corp Oh accumulated 0.25% or 148,476 shares. Paloma Partners Mngmt, a Connecticut-based fund reported 131,952 shares. Fayez Sarofim & Co has 0% invested in the company for 22,000 shares. Moreover, Omers Administration has 2.73% invested in CSX Corporation (NASDAQ:CSX) for 5.08M shares. Investors Advisory Services has 14,791 shares for 0.07% of their US portfolio. Cibc Asset Mgmt Incorporated last reported 0.21% of its portfolio in the stock. Deutsche Savings Bank Ag has 2.95 million shares for 0.05% of their US portfolio. Everpoint Asset Limited Liability holds 0.05% of its portfolio in CSX Corporation (NASDAQ:CSX) for 89,976 shares. First Financial Corp In holds 0.01% or 500 shares in its portfolio. Los Angeles Capital Mgmt Equity Incorporated holds 27,470 shares or 0.01% of its portfolio. Integral Derivatives Llc holds 0.01% or 10,151 shares in its portfolio. Alphamark Ltd Liability owns 1,700 shares or 0.03% of their US portfolio. Archford Cap Strategies Ltd Liability holds 0.02% of its portfolio in CSX Corporation (NASDAQ:CSX) for 1,488 shares. Dowling & Yahnke Lc accumulated 13,456 shares or 0.04% of the stock.
Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 4 insider sales for $10.80 million net activity. GOODEN CLARENCE W sold $510,184 worth of stock or 17,332 shares. 300,000 shares were sold by WARD MICHAEL J, worth $9.29M.
More recent CSX Corporation (NASDAQ:CSX) news were published by: Streetinsider.com which released: “CSX Corp. (CSX) Offers Q4 Update; Sees EPS Flat-to-Slightly Up” on November 30, 2016. Also Globenewswire.com published the news titled: “CSX Corporation Chief Financial Officer to Address Credit Suisse 4th Annual …” on November 21, 2016. Nasdaq.com‘s news article titled: “CSX Corporation (CSX) Ex-Dividend Date Scheduled for November 28, 2016” with publication date: November 07, 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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