Wells Fargo & Company Has Lowered Expectations for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its target price lowered by stock analysts at Wells Fargo & Company from $300.00 to $290.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 23.06% from the stock’s previous close.

NSC has been the topic of a number of other research reports. Robert W. Baird lifted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $285.00 price target on shares of Norfolk Southern in a research note on Thursday, January 30th. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Stephens lifted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $275.11.

Norfolk Southern Stock Up 0.7 %

Shares of Norfolk Southern stock opened at $235.65 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company has a market cap of $53.36 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern has a twelve month low of $206.71 and a twelve month high of $277.60. The company’s 50 day moving average is $245.81 and its 200 day moving average is $249.42.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Research analysts anticipate that Norfolk Southern will post 13 EPS for the current year.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors have recently bought and sold shares of NSC. Raab & Moskowitz Asset Management LLC increased its stake in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after acquiring an additional 44 shares during the period. CoreCap Advisors LLC grew its stake in Norfolk Southern by 1.5% during the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock worth $727,000 after purchasing an additional 45 shares in the last quarter. Albert D Mason Inc. lifted its position in shares of Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its holdings in Norfolk Southern by 5.4% during the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after purchasing an additional 49 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

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.