Norfolk Southern (NYSE:NSC) Price Target Raised to $255.00

Norfolk Southern (NYSE:NSC) had its target price upped by analysts at Susquehanna from $245.00 to $255.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the railroad operator’s stock. Susquehanna’s price target points to a potential upside of 14.41% from the stock’s previous close.

NSC has been the subject of several other reports. Jefferies Financial Group assumed coverage on shares of Norfolk Southern in a report on Monday, April 8th. They set a “buy” rating and a $300.00 price objective for the company. Barclays lowered their price target on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Sanford C. Bernstein cut their price objective on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada raised Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a report on Thursday, May 23rd. Finally, Wells Fargo & Company cut their price target on Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $264.12.

Norfolk Southern Price Performance

NYSE NSC opened at $222.88 on Friday. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock’s 50-day moving average is $222.31 and its two-hundred day moving average is $237.36. The firm has a market cap of $50.35 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.18 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.21. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $2.95 EPS. On average, analysts anticipate that Norfolk Southern will post 11.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the purchase, the director now owns 7,000 shares in the company, valued at approximately $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the acquisition, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Hedge funds have recently modified their holdings of the company. Verdence Capital Advisors LLC grew its position in Norfolk Southern by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 35,074 shares of the railroad operator’s stock worth $7,530,000 after acquiring an additional 1,312 shares during the last quarter. apricus wealth LLC grew its holdings in shares of Norfolk Southern by 8.3% during the second quarter. apricus wealth LLC now owns 1,180 shares of the railroad operator’s stock worth $253,000 after purchasing an additional 90 shares during the last quarter. Hills Bank & Trust Co increased its stake in shares of Norfolk Southern by 1.7% in the second quarter. Hills Bank & Trust Co now owns 13,074 shares of the railroad operator’s stock valued at $2,807,000 after buying an additional 214 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Norfolk Southern by 6.6% in the second quarter. Raymond James Trust N.A. now owns 17,891 shares of the railroad operator’s stock valued at $3,841,000 after buying an additional 1,104 shares during the last quarter. Finally, Wedgewood Investors Inc. PA acquired a new position in Norfolk Southern during the 2nd quarter worth about $803,000. 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.