NEW YORK (TheStreet) -- Shares of CSX Corp. (CSX) were falling 2.4% to $36.56 on heavy trading volume Monday after hedge fund manager Bill Ackman said he wouldn't discuss the railroad company at his presentation at the Ira Sohn conference in New York City.
Ackman is expected to be the last speaker at the investing conference, according to MarketWatch. The hedge fund manager was expected to pitch consolidation in the railroad industry before announcing he wouldn't discuss the company during his presentation, according to the news site.
Shares of CSX previously rallied Friday as investors speculated that Ackman would discuss the company.
About 17 million shares of CSX were traded by 3:21 p.m. Monday, above the railroad company's average trading volume of about 9.1 million shares a day.
TheStreet Ratings team rates CSX CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CSX CORP (CSX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: