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CSX Corporation (CSX), headquartered in Jacksonville, Florida, is a leading transportation company specializing in rail-based freight solutions across the U.S. With a market cap of $66 billion, CSX plays a pivotal role in the transportation sector, offering a comprehensive range of services, including rail transportation, intermodal services, and rail-to-truck transloading. Competing with other major transportation firms like Union Pacific Corporation (UNP), CSX emphasizes innovation, operational efficiency, and customer service.
Companies valued at $10 billion or more are classified as "large-cap" stocks and CSX Corporation fits well into this category, underscoring its significant scale, stability, and impact within the North American transportation sector. With a diverse portfolio that includes rail transportation, intermodal services, and rail-to-truck transloading, CSX continues to drive growth and deliver value across various industries.
CSX shares are trading 16.5% below their 52-week high of $40.12, which they hit on Feb. 23. The stock has gained 1.8% over the past three months, underperforming the broader S&P 500 Index ($SPX), which has gained 2.5% over the same time frame.
In the longer term, CSX is down 3.4% on a YTD basis. However, the shares have gained 11.9% over the past 52 weeks. In comparison, the SPX has gained 23.3% in 2024 and rallied 35.1% over the past year.
To confirm its bearish trend, CSX has been trading below its 50-day moving average since early September. However, it is trading above the 200-day moving average since early July.
CSX Corporation's stock has dropped by 10.8% over the past six months, primarily due to supply chain disruptions and network-related issues, underperforming its industry, which saw a decline of 4.1%. In addition, CSX shares closed down more than 3% on Aug. 5 after reporting its Q2 results. Its adjusted EPS of $0.49 topped Wall Street’s expectations of $0.48, and its revenue was $3.70 billion, matching forecasts.
Highlighting the contrast in performance, CSX's competitor, UNP, has outperformed the stock. UNP has gained 2.8% on a YTD basis.
Despite the stock's weak recent price performance, analysts are optimistic about CSX's prospects. The stock has a consensus rating of "Strong Buy" from 22 analysts in coverage. The mean price target of $38.78 reflects a 15.7% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
