Benchmark Reiterates Buy Rating for Norfolk Southern (NYSE:NSC)

Norfolk Southern (NYSE:NSC)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a note issued to investors on Thursday,Benzinga reports. They currently have a $285.00 price target on the railroad operator’s stock. Benchmark’s price objective would indicate a potential upside of 10.25% from the company’s current price.

NSC has been the topic of several other reports. Bank of America lifted their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen upped their price objective on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stephens upped their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday. Evercore ISI decreased their price objective on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average target price of $277.94.

Norfolk Southern Price Performance

NYSE:NSC traded up $1.77 on Thursday, reaching $258.51. 224,532 shares of the company’s stock traded hands, compared to its average volume of 1,220,399. Norfolk Southern has a 12 month low of $206.71 and a 12 month high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The stock has a 50-day simple moving average of $249.36 and a 200-day simple moving average of $248.69. The firm has a market cap of $58.49 billion, a PE ratio of 24.26, a P/E/G ratio of 2.29 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Equities research analysts forecast that Norfolk Southern will post 11.78 earnings per share for the current year.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its holdings in shares of Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Foster Victor Wealth Advisors LLC raised 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 acquiring an additional 42 shares during the last quarter. Stratos Investment Management LLC raised its stake in Norfolk Southern by 3.8% in the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock worth $287,000 after acquiring an additional 42 shares during the last quarter. Finally, Archer Investment Corp raised its stake in Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other 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.