Norfolk Southern (NYSE:NSC) PT Raised to $280.00 at Wells Fargo & Company

Norfolk Southern (NYSE:NSC) had its target price raised by equities researchers at Wells Fargo & Company from $270.00 to $280.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.49% from the stock’s current price.

A number of other brokerages have also recently commented on NSC. Susquehanna increased their price target on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group lifted their price target on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Benchmark upped their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup lifted their target price on shares of Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Evercore ISI upped their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 1.4 %

NYSE NSC opened at $253.42 on Wednesday. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The business has a fifty day moving average price of $248.76 and a two-hundred day moving average price of $236.88. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.54. The stock has a market capitalization of $57.30 billion, a PE ratio of 23.80, a PEG ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $2.65 earnings per share. Equities analysts expect that Norfolk Southern will post 11.78 earnings per share for the current fiscal year.

Insider Activity

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction 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 completion of the sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Norfolk Southern

Several large investors have recently added to or reduced their stakes in the business. Seven Eight Capital LP purchased a new stake in shares of Norfolk Southern in the second quarter worth approximately $1,676,000. Manning & Napier Advisors LLC purchased a new stake in Norfolk Southern in the 2nd quarter valued at $13,627,000. Broderick Brian C bought a new position in Norfolk Southern during the 1st quarter valued at $956,000. OFI Invest Asset Management purchased a new position in Norfolk Southern during the 2nd quarter worth $846,000. Finally, Hoxton Planning & Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth $583,000. Institutional investors own 75.10% of the company’s stock.

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.