10 Best Logistics Stocks to Buy Now

2. CSX Corporation (NASDAQ:CSX)

Number of Hedge Fund Holders: 70

Value of Hedge Fund Holdings: $3,826,325,000

CSX Corporation (NASDAQ:CSX) is a rail-based freight transportation company based in North America. It was founded in 1980 and is headquartered in Jacksonville, Florida, United States.

In Q1 2024, CSX Corporation (NASDAQ:CSX) reported earnings per share of $0.46, around 1.7% higher than the estimates. In Q1, the company achieved its second consecutive quarter of sequential operating income growth, even with a $30 million net fuel cost increase compared to the fourth quarter. Moreover, sequential operating margins improved by nearly 100 basis points. This positive trend sets the stage for year-over-year gains in the latter half of 2024.

The average price target for CSX Corporation (NASDAQ:CSX) is $39.44, as per the projections of 17 analysts from Wall Street over the past 3 months. Among these, the highest price target is $44, while the lowest forecast stands at $35.

On average, this implies an 18.05% upside potential from the last price of $33.41. Furthermore, CSX Corporation (NASDAQ:CSX) got an average rating of “Moderate Buy.” Among the analysts, 12 recommend Buying the stock, while 5 suggest Holding it.

As of the first quarter of 2024, 70 hedge funds reported owning a stake in CSX Corporation (NASDAQ:CSX), making it one of the best logistics stocks to buy.