Norfolk Southern (NYSE:NSC) Price Target Raised to $291.00 at Bank of America

Norfolk Southern (NYSE:NSC) had its price objective hoisted by research analysts at Bank of America from $276.00 to $291.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the railroad operator’s stock. Bank of America‘s target price indicates a potential upside of 13.84% from the stock’s current price.

NSC has been the subject of several other research reports. Barclays upped their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Jefferies Financial Group increased their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen raised their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.32.

Norfolk Southern Price Performance

Shares of NYSE NSC traded down $4.80 during mid-day trading on Wednesday, reaching $255.63. The company had a trading volume of 531,184 shares, compared to its average volume of 1,254,867. The company has a 50-day moving average price of $248.46 and a two-hundred day moving average price of $236.73. The stock has a market cap of $57.75 billion, a PE ratio of 41.35, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.15. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern will post 11.79 earnings per share for the current year.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wealthcare Advisory Partners LLC raised its stake in Norfolk Southern by 72.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock valued at $739,000 after purchasing an additional 1,221 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Norfolk Southern by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after buying an additional 2,483 shares during the period. Sunburst Financial Group LLC grew its position in Norfolk Southern by 16.4% during the first quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock worth $268,000 after buying an additional 150 shares in the last quarter. Indiana Trust & Investment Management CO increased its stake in Norfolk Southern by 3.0% during the first quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after acquiring an additional 43 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Norfolk Southern in the 1st quarter valued at approximately $56,144,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.