The stock of CSX Corporation (NASDAQ:CSX) hit a new 52-week high and has $49.11 target or 61.00% above today’s $30.50 share price. The 9 months bullish chart indicates low risk for the $28.83 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $49.11 price target is reached, the company will be worth $17.59B 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 3.01 million shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 23.36% since February 26, 2016 and is uptrending. It has outperformed by 12.94% the S&P500.
Analysts await CSX Corporation (NYSE:CSX) to report earnings on October, 11. They expect $0.46 EPS, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.81 million for 16.58 P/E if the $0.46 EPS becomes a reality. After $0.47 actual EPS reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.13% 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 -8.52% below today’s ($30.5) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. Cowen & Co maintained CSX Corporation (NASDAQ:CSX) on Thursday, January 14 with “Market Perform” rating. Bank of America upgraded it to “Buy” rating and $28 target price in Tuesday, February 23 report. Argus Research maintained the stock with “Buy” rating in Tuesday, January 19 report. RBC Capital Markets maintained CSX Corporation (NASDAQ:CSX) on Thursday, January 14 with “Outperform” 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 increased to 0.95 in 2016 Q2. 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.
Vigilant Mngmt Lc reported 2,005 shares or 0.01% of all its holdings. Old Natl Commercial Bank In last reported 90,705 shares in the company. Moreover, Caxton Assoc Lp has 0.57% invested in CSX Corporation (NASDAQ:CSX) for 789,600 shares. Principal Fincl Grp Incorporated last reported 0.05% of its portfolio in the stock. Huntington Bank & Trust holds 0.06% or 70,919 shares in its portfolio. Inv Of Virginia Limited Liability Com last reported 0.08% of its portfolio in the stock. Cohen owns 106,670 shares or 0.81% of their US portfolio. Rowland & Counsel Adv accumulated 0% or 77,805 shares. Moreover, Beese Fulmer Management has 0.17% invested in CSX Corporation (NASDAQ:CSX) for 23,110 shares. Midas Corporation has 108,500 shares for 1.6% of their US portfolio. Boston Ltd Liability Com last reported 48,658 shares in the company. Geneva Advsrs Limited has invested 0% of its portfolio in CSX Corporation (NASDAQ:CSX). Checchi Advisers Limited Liability last reported 7,397 shares in the company. Victory Management has invested 0.01% of its portfolio in CSX Corporation (NASDAQ:CSX). The Pennsylvania-based Pitcairn has invested 0.05% in CSX Corporation (NASDAQ:CSX).
Insider Transactions: Since September 26, 2016, the stock had 0 insider buys, and 1 insider sale for $510,184 net activity. 17,332 shares with value of $510,184 were sold by GOODEN CLARENCE W on Monday, September 26.
More recent CSX Corporation (NASDAQ:CSX) news were published by: Seekingalpha.com which released: “Time To Sell CSX” on September 29, 2016. Also Finance.Yahoo.com published the news titled: “CSX Corporation Announces Revised Dates For Earnings Release and Third-Quarter …” on September 15, 2016. Profitconfidential.com‘s news article titled: “CSX Corporation: The Bull Run in CSX Stock has Only Begun” with publication date: September 20, 2016 was also an interesting one.
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