CSX Target of Unusually High Options Trading (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the target of unusually large options trading on Tuesday. Stock investors acquired 21,406 call options on the company. This is an increase of approximately 385% compared to the average daily volume of 4,418 call options.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSX shares. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. UBS Group reduced their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Sanford C. Bernstein raised their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company started coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Finally, Stephens reissued an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.73.

Institutional Trading of CSX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX in the 1st quarter worth approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in shares of CSX during the 2nd quarter worth approximately $33,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX during the 4th quarter valued at approximately $34,000. Finally, Burkett Financial Services LLC acquired a new position in shares of CSX in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Up 4.2 %

CSX stock traded up $1.37 during mid-day trading on Tuesday, reaching $34.37. 10,663,189 shares of the company were exchanged, compared to its average volume of 11,826,218. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The business has a fifty day moving average of $33.54 and a 200 day moving average of $35.04. The firm has a market cap of $67.19 billion, a P/E ratio of 18.85, a PEG ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. CSX’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that CSX will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s payout ratio is currently 26.37%.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.