Live Price Coverage: Will CSX Corporation Run Out of Steam Soon?

Live Price Coverage: Will CSX Corporation Run Out of Steam Soon?

The stock of CSX Corporation (NASDAQ:CSX) hit a new 52-week high and has $40.05 target or 29.00% above today’s $31.05 share price. The 9 months bullish chart indicates low risk for the $29.36 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $40.05 price target is reached, the company will be worth $8.51B 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. The stock last traded at $31.05 per share. It is down 21.57% since March 7, 2016 and is uptrending. It has outperformed by 13.98% the S&P500.

Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on October, 11. They expect $0.46 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.96M for 16.88 P/E if the $0.46 EPS becomes a reality. After $0.47 actual earnings per share 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. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. The stock of CSX Corporation (NASDAQ:CSX) has “Market Perform” rating given on Thursday, January 14 by Cowen & Co. Argus Research maintained CSX Corporation (NASDAQ:CSX) on Tuesday, January 19 with “Buy” rating. The company was maintained on Thursday, January 14 by RBC Capital Markets. The company was upgraded on Tuesday, February 23 by Bank of America.

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 improved, 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.
Interocean Capital Limited Liability Co holds 0.78% or 123,191 shares in its portfolio. Courier Cap last reported 7,888 shares in the company. Principal Fin Group accumulated 0.05% or 1.31M shares. Modera Wealth Mgmt Limited Co holds 0.07% of its portfolio in CSX Corporation (NASDAQ:CSX) for 7,804 shares. Robeco Institutional Asset Management Bv holds 46,809 shares or 0.01% of its portfolio. Mufg Americas Hldg Corp, a New York-based fund reported 44,995 shares. Ghp Invest Advsrs Inc has 0.39% invested in the company for 70,008 shares. Natl Planning Corp last reported 12,074 shares in the company. Cap Innovations Limited holds 2.28% of its portfolio in CSX Corporation (NASDAQ:CSX) for 29,940 shares. Pillar Pacific Cap Limited Liability Corporation last reported 0.9% of its portfolio in the stock. Lenox Wealth Mgmt Incorporated owns 1,795 shares or 0.03% of their US portfolio. Engineers Gate Manager L P reported 109,700 shares or 0.21% of all its holdings. Loomis Sayles & Lp holds 0.03% or 358,273 shares in its portfolio. Arrow Fincl Corp last reported 0% of its portfolio in the stock. Savant Cap Lc has invested 0.1% of its portfolio in CSX Corporation (NASDAQ:CSX).

Insider Transactions: Since September 26, 2016, the stock had 0 buys, and 1 sale for $510,184 net activity. 17,332 shares were sold by GOODEN CLARENCE W, worth $510,184 on Monday, September 26.

More important recent CSX Corporation (NASDAQ:CSX) news were published by: Seekingalpha.com which released: “CSX: How Long Will It Last?” on October 07, 2016, also Nasdaq.com published article titled: “Will Q3 Earnings Hold a Surprise for CSX Corp (CSX) Stock?”, Profitconfidential.com published: “CSX Corporation: The Bull Run in CSX Stock has Only Begun” on September 20, 2016. More interesting news about CSX Corporation (NASDAQ:CSX) was released by: Seekingalpha.com and their article: “CSX Still Looks Attractive” with publication date: October 05, 2016.

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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