CSX Co. (CSX) Short Interest Down 14.2% in December

CSX Co. (NASDAQ:CSX) was the target of a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 14,751,121 shares, a decrease of 14.2% from the December 15th total of 17,185,013 shares. Based on an average trading volume of 9,184,425 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.7% of the shares of the stock are sold short.

Shares of CSX (CSX) opened at $59.25 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $52,950.00, a PE ratio of 30.54, a P/E/G ratio of 1.59 and a beta of 1.35. CSX has a 12 month low of $36.21 and a 12 month high of $59.76.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.77 billion. CSX had a return on equity of 17.28% and a net margin of 15.45%. CSX’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. analysts predict that CSX will post 2.21 EPS for the current fiscal year.

CSX announced that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts recently commented on the company. Scotiabank cut CSX from an “outperform” rating to a “sector perform” rating and set a $43.00 target price on the stock. in a research note on Friday. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “buy” rating and set a $59.00 price objective on shares of CSX in a research note on Tuesday. Finally, TD Securities cut CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $63.00 to $54.00 in a research note on Monday, December 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $57.28.

In other news, Director Gary Keith Anderson bought 5,000 shares of CSX stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average price of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Command Financial Services Inc. grew its stake in shares of CSX by 130.0% in the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after purchasing an additional 1,200 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of CSX in the third quarter worth about $196,000. Laurel Wealth Advisors Inc. bought a new stake in shares of CSX in the second quarter worth about $226,000. Americafirst Capital Management LLC purchased a new stake in CSX in the third quarter worth about $308,000. Finally, Sterling Capital Management LLC lifted its holdings in CSX by 32.0% in the third quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after buying an additional 1,423 shares during the period. 70.15% of the stock is currently owned by institutional investors.

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About CSX

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

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