CSX (CSX) Gets a Buy Rating from Raymond James
Raymond James analyst Patrick Brown maintained a Buy rating on CSX (CSX) today and set a price target of $87.00. The company’s shares closed last Wednesday at $78.72, close to its 52-week high of $81.40.
According to TipRanks.com, Brown is a top 100 analyst with an average return of 18.6% and a 78.9% success rate. Brown covers the Industrial Goods sector, focusing on stocks such as Kansas City Southern, GFL Environmental, and Norfolk Southern.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CSX with a $85.10 average price target, which is a 7.4% upside from current levels. In a report issued on October 12, Bernstein also upgraded the stock to Buy with a $94.00 price target.
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Based on CSX’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.26 billion and net profit of $499 million. In comparison, last year the company earned revenue of $3.06 billion and had a net profit of $870 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSX in relation to earlier this year.
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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.