Wells Fargo Maintains a Hold Rating on CSX (CSX)
In a report released yesterday, Allison Poliniak from Wells Fargo maintained a Hold rating on CSX (CSX). The company’s shares closed last Tuesday at $95.89, close to its 52-week high of $97.54.
According to TipRanks.com, Poliniak is a 5-star analyst with an average return of 18.8% and a 72.5% success rate. Poliniak covers the Industrial Goods sector, focusing on stocks such as Expeditors International, Knight Transportation, and Old Dominion Freight.
Currently, the analyst consensus on CSX is a Moderate Buy with an average price target of $92.82, a -2.4% downside from current levels. In a report issued on January 11, Citigroup also maintained a Hold rating on the stock with a $105.00 price target.
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Based on CSX’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.65 billion and net profit of $736 million. In comparison, last year the company earned revenue of $2.98 billion and had a net profit of $856 million.
Based on the recent corporate insider activity of 45 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.