NEW YORK ( TheStreet) - CSX ( CSX) and Advanced Micro Devices ( AMD) were among the best-performers in the S&P 500 on Thursday. The S&P 500 rose 8.32 points, or 0.6%, to close at 1402.60, notching its first finish above 1400 since June 2008. The index is up 11.5% so far in 2012 on a price basis.
Shares of CSX increased 8.46% to $21.92 on heavier-than-normal volume. Reuters reported Thursday that the railroad operator's chief financial officer was bullish about first-quarter results despite a decline in coal consumption because of warm winter weather and low natural gas prices. CSX's stock trades at an estimated price-to-earnings value for next year of 10.52X; the average for railroad companies is 13.97X. For comparison, Norfolk Southern ( NSC) has a forward P/E of 10.49X and Union Pacific's ( UNP) forward P/E is 12.18X. Twenty-four of the 30 analysts who cover CSX rate it at buy. Five analysts give the stock a hold rating and one rates it at sell. TheStreet Ratings gives CSX a B+ grade with a buy rating and $24.13 price target. The stock has risen 4.08% year to date.