Citigroup Forecasts Strong Price Appreciation for Norfolk Southern (NYSE:NSC) Stock

Norfolk Southern (NYSE:NSC) had its price objective boosted by analysts at Citigroup from $302.00 to $316.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the railroad operator’s stock. Citigroup’s price target points to a potential upside of 17.36% from the company’s current price.

NSC has been the topic of several other reports. Bank of America lifted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Susquehanna increased their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Up 0.7 %

Shares of NYSE:NSC opened at $269.26 on Tuesday. The firm has a market capitalization of $60.92 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. Norfolk Southern has a 52-week low of $201.44 and a 52-week high of $277.60. The firm has a fifty day moving average of $252.33 and a 200 day moving average of $238.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 EPS. As a group, research analysts anticipate that Norfolk Southern will post 11.82 EPS for the current fiscal year.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents 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 other news, Director Sameh Fahmy bought 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Norfolk Southern

Several institutional investors have recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern during the third quarter valued at $25,000. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern during the second quarter valued at approximately $31,000. Finally, HWG Holdings LP purchased a new stake in Norfolk Southern in the second quarter worth approximately $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

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.