Norfolk Southern (NYSE:NSC) PT Raised to $302.00

Norfolk Southern (NYSE:NSC) had its price target hoisted by stock analysts at Citigroup from $294.00 to $302.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the railroad operator’s stock. Citigroup’s price target would indicate a potential upside of 17.52% from the stock’s previous close.

Several other analysts have also issued reports on the company. Sanford C. Bernstein upped their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Benchmark increased their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus boosted their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $256.98 on Tuesday. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The stock has a market cap of $58.06 billion, a P/E ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The firm’s fifty day moving average price is $248.76 and its 200-day moving average price is $236.88.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results 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 19.64% and a net margin of 14.85%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $2.65 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Alan H. Shaw sold 51,325 shares of the 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sameh Fahmy purchased 700 shares of the stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Norfolk Southern by 20.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after acquiring an additional 2,453 shares during the period. BKM Wealth Management LLC raised its position in Norfolk Southern by 6.7% in the third quarter. BKM Wealth Management LLC now owns 6,894 shares of the railroad operator’s stock worth $1,713,000 after acquiring an additional 431 shares during the period. Allworth Financial LP boosted its stake in shares of Norfolk Southern by 15.3% during the 3rd quarter. Allworth Financial LP now owns 9,696 shares of the railroad operator’s stock worth $2,410,000 after acquiring an additional 1,287 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter worth $432,000. Finally, Sigma Investment Counselors Inc. purchased a new position in Norfolk Southern during the third quarter valued at $205,000. 75.10% of the stock is owned by institutional investors.

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.