Bank of America Increases Norfolk Southern (NYSE:NSC) Price Target to $291.00

Norfolk Southern (NYSE:NSC) had its price target upped by investment analysts at Bank of America from $276.00 to $291.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the railroad operator’s stock. Bank of America‘s target price points to a potential upside of 14.83% from the company’s current price.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein raised their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Evercore ISI lowered their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company increased their target price on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen boosted their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Barclays raised their price objective on Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Stock Performance

NYSE:NSC opened at $253.42 on Wednesday. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market cap of $57.30 billion, a P/E ratio of 23.80, a PEG ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.54. The firm has a 50-day moving average of $248.76 and a two-hundred day moving average of $236.88.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm earned $2.65 EPS. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts expect that Norfolk Southern will post 11.78 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Nabanita C. Nag sold 355 shares of the company’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 completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. Wealthcare Advisory Partners LLC increased its position in shares of Norfolk Southern by 72.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,900 shares of the railroad operator’s stock valued at $739,000 after purchasing an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Norfolk Southern by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock valued at $10,584,000 after purchasing an additional 2,483 shares during the period. Sunburst Financial Group LLC increased its position in shares of Norfolk Southern by 16.4% during the 1st quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock valued at $268,000 after purchasing an additional 150 shares during the period. Indiana Trust & Investment Management CO increased its position in shares of Norfolk Southern by 3.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after purchasing an additional 43 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in shares of Norfolk Southern during the 1st quarter worth $56,144,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.