Traders Buy Shares of CSX (CSX) on Weakness

Traders bought shares of CSX Co. (NASDAQ:CSX) on weakness during trading on Monday. $71.43 million flowed into the stock on the tick-up and $37.67 million flowed out of the stock on the tick-down, for a money net flow of $33.76 million into the stock. Of all equities tracked, CSX had the 28th highest net in-flow for the day. CSX traded down ($0.79) for the day and closed at $75.87

A number of equities analysts recently weighed in on the company. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Thursday, January 24th. Citigroup upped their price target on CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. SNS Securities cut CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. Finally, UBS Group cut CSX from a “buy” rating to a “neutral” rating and upped their price target for the stock from $75.00 to $80.00 in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $75.64.

The firm has a market cap of $62.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.34 and a beta of 1.29. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, January 16th. The transportation company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 4.22 earnings per share for the current fiscal year.

CSX announced that its board has approved a stock repurchase plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the sale, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.83% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CSX. Virtus ETF Advisers LLC increased its holdings in shares of CSX by 117.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $28,000. Liberty Wealth Management LLC acquired a new stake in shares of CSX in the fourth quarter valued at approximately $28,000. Karp Capital Management Corp acquired a new stake in shares of CSX in the fourth quarter valued at approximately $30,000. Finally, Highwater Wealth Management LLC purchased a new position in CSX in the fourth quarter worth approximately $31,000. 77.35% of the stock is owned by hedge funds and other institutional investors.

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CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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