CSX (CSX) Receives a Buy from RBC Capital

RBC Capital analyst Walter Spracklin maintained a Buy rating on CSX (CSXResearch Report) on July 21 and set a price target of $35.00. The company’s shares closed last Friday at $30.89.

According to TipRanks.com, Spracklin is a 5-star analyst with an average return of 16.1% and a 61.3% success rate. Spracklin covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Andlauer Healthcare Group, and TFI International.

CSX has an analyst consensus of Strong Buy, with a price target consensus of $35.71, implying a 15.8% upside from current levels. In a report issued on July 15, Stifel Nicolaus also upgraded the stock to Buy with a $37.00 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 $3.82 billion and net profit of $1.18 billion. In comparison, last year the company earned revenue of $2.99 billion and had a net profit of $1.17 billion.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CSX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CSX Corporation provides rail-based freight transportation services, which includes traditional rail services and transportation of intermodal containers and trailers. The company operates approximately 1,848 trains per day and maintains a fleet of over 3,500 locomotives and approximately 51,000 freight cars.

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