Wells Fargo Issues a Buy Rating on CSX (CSX)
In a report released today, Christian Wetherbee from Wells Fargo assigned a Buy rating to CSX, with a price target of $50.00.
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According to TipRanks, Wetherbee is a 5-star analyst with an average return of 14.9% and a 62.33% success rate. Wetherbee covers the Industrials sector, focusing on stocks such as American Airlines, Delta Air Lines, and FedEx.
In addition to Wells Fargo, CSX also received a Buy from Bank of America Securities’s Ken Hoexter in a report issued on June 16. However, on June 11, Bernstein maintained a Hold rating on CSX (NASDAQ: CSX).
Based on CSX’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.48 billion and a net profit of $807 million. In comparison, last year the company earned a revenue of $3.42 billion and had a net profit of $646 million
Based on the recent corporate insider activity of 65 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. Earlier this month, Kevin S. Boone, the EVP & CFO of CSX sold 136,708.00 shares for a total of $6,384,263.60.
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