Norfolk Southern (NYSE:NSC) Price Target Raised to $285.00

Norfolk Southern (NYSE:NSC) had its price target upped by analysts at Susquehanna from $280.00 to $285.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the railroad operator’s stock. Susquehanna’s target price indicates a potential upside of 9.43% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Evercore ISI lifted their price objective on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Finally, Benchmark increased their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $268.56.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $260.43 on Wednesday. The firm has a 50 day simple moving average of $248.46 and a 200 day simple moving average of $236.73. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The firm has a market cap of $58.83 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.10 by $0.15. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $2.65 EPS. Sell-side analysts predict that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Richard H. Anderson purchased 2,000 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. The trade was a 200.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sameh Fahmy acquired 700 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently modified their holdings of NSC. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the first quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the second quarter worth about $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $31,000. HWG Holdings LP acquired a new position in Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Norfolk Southern during the second quarter worth $34,000. Institutional investors own 75.10% of the company’s stock.

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.