Barclays Forecasts Strong Price Appreciation for Norfolk Southern (NYSE:NSC) Stock

Norfolk Southern (NYSE:NSC) had its target price boosted by equities research analysts at Barclays from $290.00 to $305.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the railroad operator’s stock. Barclays‘s price objective would indicate a potential upside of 13.15% from the company’s current price.

Several other equities analysts have also commented on NSC. Citigroup increased their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group raised their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Benchmark lifted their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Stock Up 0.8 %

Norfolk Southern stock traded up $2.11 during trading hours on Wednesday, hitting $269.56. The stock had a trading volume of 80,334 shares, compared to its average volume of 1,253,701. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock’s 50-day moving average price is $252.33 and its 200-day moving average price is $238.24. Norfolk Southern has a 12-month low of $201.44 and a 12-month high of $277.60. The stock has a market capitalization of $60.99 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 2.57 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business earned $2.65 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Norfolk Southern will post 11.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NSC. Lake Street Advisors Group LLC raised its holdings in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the period. Hall Capital Management Co. Inc. boosted its position in Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after buying an additional 42 shares during the period. Blue Chip Partners LLC boosted its position in Norfolk Southern by 0.5% during the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC boosted its position in Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after acquiring an additional 42 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Company Profile

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.