Norfolk Southern (NYSE:NSC) Given New $286.00 Price Target at Sanford C. Bernstein

Norfolk Southern (NYSE:NSC) had its price target hoisted by investment analysts at Sanford C. Bernstein from $285.00 to $286.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the railroad operator’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 16.94% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Susquehanna lifted their price target on Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Benchmark lifted their price target on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. TD Cowen raised their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $267.06.

Norfolk Southern Stock Performance

Shares of NSC traded up $1.36 during mid-day trading on Wednesday, reaching $244.56. The company’s stock had a trading volume of 244,717 shares, compared to its average volume of 1,251,983. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The stock has a market cap of $55.25 billion, a P/E ratio of 39.38, a PEG ratio of 2.40 and a beta of 1.31. The business has a 50-day simple moving average of $246.60 and a two-hundred day simple moving average of $236.70. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.95 EPS. As a group, equities research analysts anticipate that Norfolk Southern will post 11.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the acquisition, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NSC. Cullen Capital Management LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $207,000. Jacobi Capital Management LLC raised its stake in Norfolk Southern by 2.2% during the 4th quarter. Jacobi Capital Management LLC now owns 7,451 shares of the railroad operator’s stock worth $1,761,000 after buying an additional 158 shares during the period. Appian Way Asset Management LP acquired a new position in Norfolk Southern during the 4th quarter worth approximately $15,530,000. Buckingham Strategic Wealth LLC raised its stake in Norfolk Southern by 7.0% during the 4th quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after buying an additional 6,306 shares during the period. Finally, Guardian Wealth Advisors LLC NC raised its stake in Norfolk Southern by 5.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,023 shares of the railroad operator’s stock worth $951,000 after buying an additional 210 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

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.