A Potential COVID Vaccine Isn't the Only Reason CSX Stock Rallied 14.1% in November
Shares of CSX (NASDAQ: CSX) rallied 14.1% in the month of November, according to data provided by S&P Global Market Intelligence. While positive developments around a coronavirus vaccine triggered buying activity in transportation stocks, including airlines and railroads, the stamp of approval from a leading bank's research arm further fueled investor optimism in CSX stock.
After bearing the brunt of a slowdown in freight activity because of the coronavirus disease 2019 (COVID-19) shutdowns, CSX impressed investors with its third-quarter numbers released in late October.
Despite an 11% drop in year-over-year revenue, CSX's operating ratio remained intact at 56.9%. That's a remarkable feat, reflecting the company's aggressive efforts to curtail costs during a challenging time. Operating ratio is a key railroad metric that measures a company's operating expenses as a percentage of its revenue. The lower the ratio, the better.
Source Fool.com
