Norfolk Southern (NYSE:NSC) PT Raised to $282.00

Norfolk Southern (NYSE:NSC) had its price objective lifted by equities researchers at Royal Bank of Canada from $272.00 to $282.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the railroad operator’s stock. Royal Bank of Canada’s price target points to a potential upside of 11.28% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Bank of America lifted their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein increased their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Benchmark increased their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. One equities 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 company. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Stock Performance

Shares of NSC opened at $253.42 on Wednesday. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market cap of $57.25 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.33 and a beta of 1.31. The business has a 50-day simple moving average of $248.76 and a two-hundred day simple moving average of $236.88.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $2.65 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Norfolk Southern will post 11.79 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade 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 insiders.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC bought a new position in shares of Norfolk Southern in the first quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the 2nd quarter worth about $27,000. Financial Connections Group Inc. purchased a new position in shares of Norfolk Southern during the second quarter worth approximately $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $34,000. Institutional investors 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.