New Rating issued on CSX Corporation (CSX): Upgraded by Atlantic Equities to ” Overweight”

CSX Corporation (CSX) was Upgraded by Atlantic Equities to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Atlantic Equities advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , CSX Corporation was Upgraded by Atlantic Equities to ” Overweight” on Mar 15, 2017. CSX Corporation was Initiated by Wells Fargo to “Outperform” on Mar 14, 2017. Company shares were Upgraded by Deutsche Bank on Feb 28, 2017 to ” Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $42 .CSX Corporation was Upgraded by TD Securities to ” Buy” on Jan 30, 2017. Company shares were Reiterated by Barclays on Jan 30, 2017 to “Overweight”, Firm has raised the Price Target to $ 50 from a previous price target of $41 .

Several company insiders have filed Insider transactions , on Dec 16, 2016, Clarence W Gooden (President) sold 28,587 shares at $36.92 per share price. According to the SEC, on Oct 19, 2016, Michael J Ward (Chairman and CEO) sold 300,000 shares at $30.97 per share price. On Sep 3, 2015, David M Ratcliffe (director) purchased 1,868 shares at $26.84 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, CSX Corporation reported $0.49 EPS for the quarter, based on the information available during the earnings call on Jan 17, 2017. Analyst had a consensus estimate of $0.49. The company had revenue of $2859.00 million for the quarter, compared to analysts expectations of $2864.35 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

CSX Corporation opened for trading at $48.11 and hit $48.18 on the upside on Wednesday, eventually ending the session at $47.95, with a gain of 0.25% or 0.12 points. The heightened volatility saw the trading volume jump to 87,27,542 shares. Company has a market cap of $44,423 M.

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

CSX Corporation

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