UBS Group Raises Norfolk Southern (NYSE:NSC) Price Target to $309.00

Norfolk Southern (NYSE:NSC) had its price target increased by research analysts at UBS Group from $289.00 to $309.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the railroad operator’s stock. UBS Group’s price objective points to a potential upside of 21.93% from the company’s current price.

Several other research analysts have also weighed in on NSC. Benchmark boosted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group lifted their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup raised their price target on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI lifted their target price on shares of Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. 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 stock opened at $253.42 on Wednesday. The firm’s fifty day moving average price is $248.76 and its two-hundred day moving average price is $236.88. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66. The firm has a market capitalization of $57.30 billion, a P/E 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. On average, equities analysts predict that Norfolk Southern will post 11.78 EPS for the current fiscal year.

Insider Activity

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 Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, 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 disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. Seven Eight Capital LP bought a new position in Norfolk Southern in the second quarter valued at about $1,676,000. Manning & Napier Advisors LLC bought a new position in Norfolk Southern in the 2nd quarter valued at approximately $13,627,000. Broderick Brian C acquired a new stake in Norfolk Southern during the 1st quarter worth approximately $956,000. OFI Invest Asset Management bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $846,000. Finally, Hoxton Planning & Management LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at approximately $583,000. Institutional investors and hedge funds 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.