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

Norfolk Southern (NYSE:NSC) had its price objective hoisted by research analysts at Benchmark from $270.00 to $285.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the railroad operator’s stock. Benchmark’s price target would indicate a potential upside of 12.46% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Susquehanna raised their price objective on Norfolk Southern from $255.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. TD Cowen upped their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 1.4 %

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

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned $2.65 EPS. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts forecast that Norfolk Southern will post 11.78 EPS for the current fiscal year.

Insider Activity

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds have recently added to or reduced their stakes in NSC. Wealthcare Advisory Partners LLC grew its position in Norfolk Southern by 72.7% in 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 first quarter. Wealth Enhancement Advisory Services LLC now owns 41,527 shares of the railroad operator’s stock worth $10,584,000 after acquiring an additional 2,483 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of Norfolk Southern by 16.4% during the first quarter. Sunburst Financial Group LLC now owns 1,063 shares of the railroad operator’s stock worth $268,000 after acquiring an additional 150 shares in the last quarter. Indiana Trust & Investment Management CO lifted its position in Norfolk Southern by 3.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after acquiring an additional 43 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Norfolk Southern during the 1st quarter valued at about $56,144,000. Institutional investors and hedge funds 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.