Norfolk Southern (NYSE:NSC) Price Target Raised to $287.00

Norfolk Southern (NYSE:NSC) had its price objective lifted by equities research analysts at Loop Capital from $285.00 to $287.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the railroad operator’s stock. Loop Capital’s price target indicates a potential upside of 13.25% from the company’s current price.

Several other research analysts have also weighed in on NSC. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein boosted their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna boosted their target price on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group raised their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Performance

NSC opened at $253.42 on Wednesday. The business’s 50-day simple moving average is $248.76 and its 200 day simple moving average is $236.88. Norfolk Southern has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.73. The firm 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 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. As a group, sell-side analysts expect that Norfolk Southern will post 11.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

A number of hedge funds have recently bought and sold shares of NSC. Orrstown Financial Services Inc. acquired a new stake in Norfolk Southern in the third quarter worth $276,000. Richardson Financial Services Inc. grew its holdings in Norfolk Southern by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 356 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 178 shares during the period. Park Edge Advisors LLC acquired a new stake in Norfolk Southern in the third quarter worth $229,000. Pullen Investment Management LLC grew its holdings in Norfolk Southern by 2.0% in the third quarter. Pullen Investment Management LLC now owns 4,394 shares of the railroad operator’s stock worth $1,092,000 after purchasing an additional 86 shares during the period. Finally, Frank Rimerman Advisors LLC grew its holdings in Norfolk Southern by 70.7% in the third quarter. Frank Rimerman Advisors LLC now owns 3,177 shares of the railroad operator’s stock worth $789,000 after purchasing an additional 1,316 shares during the period. 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.