CSX (NASDAQ:CSX) Sees Unusually-High Trading Volume – Should You Buy?

CSX Co. (NASDAQ:CSX) saw strong trading volume on Friday . 4,684,201 shares traded hands during mid-day trading, a decline of 50% from the previous session’s volume of 9,308,934 shares.The stock last traded at $32.20 and had previously closed at $32.16.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. BMO Capital Markets lowered their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Loop Capital dropped their target price on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Susquehanna reduced their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Citigroup boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen reduced their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

CSX Trading Up 0.6 %

The company has a market capitalization of $62.37 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock’s fifty day moving average price is $34.23 and its two-hundred day moving average price is $34.02.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 earnings per share. Sell-side analysts anticipate that CSX Co. will post 1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. boosted its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in CSX during the 2nd quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $32,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX in the 3rd quarter worth approximately $31,000. Finally, Addison Advisors LLC lifted its stake in shares of CSX by 348.5% in the 3rd quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 812 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.