Wells Fargo & Company Lowers Norfolk Southern (NYSE:NSC) Price Target to $300.00

Norfolk Southern (NYSE:NSC) had its target price dropped by investment analysts at Wells Fargo & Company from $320.00 to $300.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 25.78% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein upped their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Barclays raised their price target on Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI reduced their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Cowen lifted their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “equal weight” rating and set a $263.00 price target on shares of Norfolk Southern in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $276.74.

Norfolk Southern Stock Up 0.7 %

Shares of NYSE:NSC traded up $1.55 on Tuesday, hitting $238.51. 113,592 shares of the company’s stock were exchanged, compared to its average volume of 813,453. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market capitalization of $53.96 billion, a PE ratio of 22.40, a P/E/G ratio of 2.34 and a beta of 1.34. The firm’s 50-day moving average is $254.48 and its 200 day moving average is $245.33.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 earnings per share. Sell-side analysts predict that Norfolk Southern will post 11.82 EPS for the current year.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Several large investors have recently bought and sold shares of NSC. Highline Wealth Partners LLC purchased a new position in Norfolk Southern during the 3rd quarter valued at about $25,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $30,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Coastline Trust Co purchased a new position in Norfolk Southern during the third quarter worth $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern in the third quarter worth $33,000. Institutional investors and hedge funds 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.