CSX (NASDAQ:CSX) Sees Unusually-High Trading Volume – What’s Next?

Shares of CSX Co. (NASDAQ:CSX) saw an uptick in trading volume on Friday . 4,684,201 shares traded hands during 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

Several research firms recently weighed in on CSX. Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. BMO Capital Markets reduced their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Susquehanna lowered 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. Royal Bank of Canada dropped their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Finally, Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Trading Up 0.3 %

The firm has a 50-day moving average of $34.25 and a two-hundred day moving average of $34.02. The firm has a market capitalization of $62.23 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.24 and a beta of 1.20. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company posted $0.42 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, analysts anticipate that CSX Co. will post 1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSX. Farther Finance Advisors LLC increased its stake in shares of CSX by 51.9% in the second quarter. Farther Finance Advisors LLC now owns 7,412 shares of the transportation company’s stock valued at $249,000 after buying an additional 2,532 shares during the period. Wolverine Asset Management LLC raised its stake in shares of CSX by 344.4% during the second quarter. Wolverine Asset Management LLC now owns 40,000 shares of the transportation company’s stock valued at $1,338,000 after acquiring an additional 31,000 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of CSX by 3.8% during the second quarter. Simon Quick Advisors LLC now owns 11,067 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 408 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of CSX by 36.8% during the second quarter. Foundations Investment Advisors LLC now owns 50,898 shares of the transportation company’s stock worth $1,703,000 after purchasing an additional 13,700 shares during the period. Finally, FineMark National Bank & Trust grew its stake in shares of CSX by 269.1% in the second quarter. FineMark National Bank & Trust now owns 54,602 shares of the transportation company’s stock worth $1,826,000 after purchasing an additional 39,809 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

About CSX

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.