No. 1 ranked CSX railroad, with 19,500 miles of tracks across the U.S. and Canada, got a bump up for its Relative Strength (RS) Rating Tuesday, to 76, up from 69 the day before. CSX stock rose aobut 0.5% to 34.39 Tuesday afternoon.
The new 76 RS Rating puts Jacksonville, Fla.-based CSX in the top 25% of all stocks in terms of price performance. It's rolling in the right direction but needs more steam to get to the best stocks category. Market research shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if CSX can continue to show renewed price strength and hit that benchmark.
Lots Of Green Flags, One Yellow For CSX Stock
Among other principal ratings, CSX boasts a 91 EPS Rating, of 99. Its 89 Composite Rating, an amalgam of IBD's top five other ratings, shows market muscle too. One yellow flag is its D+ Accumulation/Distribution Rating on an A+ to E scale. That rating indicates that big funds are selling a bit more shares of CSX stock than buying, overall.
CSX posted 20% earning growth in its most recent report, to 42 cents per share. The prior two stanzas its EPS grew 136% and 34% vs. easy comps in the year-earlier, Covid-impacted quarters. Sales last quarter rose 21% to $3.42 billion. The next quarterly results are expected on April 20 after the market closes.
Looking For The Best Stocks To Buy And Watch? Start Here
CSX stock is building a flat base with a 38.73 buy point. See if it can break out in heavy volume.
CSX stock holds the No. 1 rank among its peers in the Transportation-Rail industry group. Union Pacific and Canadian National Railway are also among the top 5 ranked railroads in the group.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary Relative Strength Rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
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