Merrill Lynch Believes CSX Won’t Stop Here

By Austin Angelo

Merrill Lynch analyst Ken Hoexter reiterated a Buy rating on CSX Corp (NYSE: CSX) today and set a price target of $40. The company’s shares opened today at $36.07, close to its 52-week high of $36.86.

According to TipRanks.com, Hoexter is a 4-star analyst with an average return of 4.1% and a 51.7% success rate. Hoexter covers the Services sector, focusing on stocks such as Triton International Limited, Navios Maritime Midstream, and Knight Transportation.

CSX Corp has an analyst consensus of Moderate Buy, with a price target consensus of $34.71.

The company has a one year high of $36.86 and a one year low of $21.33. Currently, CSX Corp has an average volume of 8.56M.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Most recently, in October 2016, Michael J. Ward, the Chairman & CEO of CSX sold 300,000 shares for a total of $9,291,000.

CSX Corp. engages in the provision of rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. It operates through its principal operating subsidiary, CSX Transportation, Inc., provides an important link to the transportation supply chain through its rail network. The company was founded in 1827 and is headquartered in Jacksonville, FL.