CSX Corporation (CSX): Technicals Say You should Hold

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CSX Corporation (NASDAQ:CSX) saw an upside of 0.12% to close Monday at $32.05 after adding $0.04 on the day. The 5-day average trading volume is 13,726,779 shares of the company’s common stock. It has gained $33.04 in the past week and touched a new high 2 times within the past 5 days. An average of 10,488,740 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,966,578.

CSX’s 1-month performance is 4.30% or $0.80 on its low of $30.55 reached on 01/03/23. The company’s shares have touched a 52-week low of $25.80 and high of $38.63, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, CSX has achieved 3.45% or $1.07 and has reached a new high 8 times. However, the current price is down -17.03% from the 52-week high price.

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Insider Transactions

CSX stock investors last saw insider trading activity on Jun 06.ZILLMER JOHN J (Director) most recently sold 16,000 shares at $32.25 per share on Jun 06. This transaction cost the insider $516,000.

Valuation Metrics

CSX stock has a beta of 1.25. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.56 while the price-to-book (PB) in the most recent quarter is 5.28, with the price to cash flow ratio at 24.82.

CSX Corporation’s quick ratio for the period ended September 29 was 1.60, with the current ratio over the same period at 1.70. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.39, while the total debt to equity was 1.40. In terms of profitability, the gross margin trailing 12 months is 71.60%. The firm’s gross profit as reported stood at $9.11 billion against revenue of $12.52 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, CSX Corporation’s cash and short-term investments amounted to $88.0 million against total debt of $18.05 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 12.87% to $1.11 billion, while revenue of $1.18 billion was -6.03% off the previous quarter. Analysts expected CSX to announce $0.49 per share in earnings in its latest quarter, but it posted $0.51, representing a 4.10% surprise. EBITDA for the quarter stood at more than $1.96 billion. CSX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 29.36 billion, with total debt at $18.05 billion. Shareholders hold equity totaling $2.1 billion.

Let’s look briefly at CSX Corporation (CSX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 52.68% to suggest the stock is trending Neutral, with historical volatility in this time period at 15.87%.

The stock’s 5-day moving average is $32.09, reflecting a -1.14% or -$0.37 change from its current price. CSX is currently trading +2.66% above its 20-day SMA, -2.05% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +6.90% and SMA200 by-9.13%.

Stochastic %K and %D was 53.01% and 57.94% and the average true range (ATR) pointed at 0.67. The RSI (14) points at 53.47%, while the 14-day stochastic is at 60.24% with the period’s ATR at 0.67. The stock’s 9-day MACD Oscillator is pointing at -0.37 and -0.10 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for CSX Corporation (NASDAQ: CSX), Susquehanna downgraded it to a Neutral rating. They previously had a Positive rating on the stock. Analysts offering their rating for CSX stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate CSX as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 6 rates the stock as overweight while 14 have offered a “buy” rating.

What is CSX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $24.00 and a high of $39.00, with their median price target at $35.00. Looking at these predictions, the average price target given by analysts is for CSX Corporation (CSX) stock is $34.35.

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