Citigroup Increases Norfolk Southern (NYSE:NSC) Price Target to $302.00

Norfolk Southern (NYSE:NSC) had its price objective lifted by Citigroup from $294.00 to $302.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the railroad operator’s stock. Citigroup’s price objective would indicate a potential upside of 17.52% from the company’s current price.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group raised their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Susquehanna lifted their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Sanford C. Bernstein boosted their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price target on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Price Performance

NSC stock opened at $256.98 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a fifty day simple moving average of $248.76 and a two-hundred day simple moving average of $236.88. The firm has a market capitalization of $58.06 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 earnings per share. Analysts anticipate 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 Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NSC. Lake Street Advisors Group LLC raised its stake in Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after buying an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. increased its holdings in shares of 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 acquiring an additional 42 shares in the last quarter. Blue Chip Partners LLC increased its holdings in shares of 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 acquiring an additional 42 shares in the last quarter. Stephens Consulting LLC raised its position in shares of Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after purchasing an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in Norfolk Southern by 4.2% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other 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.