Royal Bank of Canada Forecasts Strong Price Appreciation for Norfolk Southern (NYSE:NSC) Stock

Norfolk Southern (NYSE:NSC) had its price objective hoisted by investment analysts at Royal Bank of Canada from $275.00 to $286.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the railroad operator’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 11.97% from the company’s previous close.

NSC has been the topic of several other reports. UBS Group lifted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup upped their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group increased their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.74.

Norfolk Southern Stock Down 0.7 %

Shares of NSC opened at $255.44 on Thursday. The firm has a 50 day simple moving average of $249.22 and a two-hundred day simple moving average of $248.75. The company has a market cap of $57.79 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.35 and a beta of 1.34. Norfolk Southern has a one year low of $206.71 and a one year high of $277.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.50% and a net margin of 21.63%. Research analysts forecast that Norfolk Southern will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in Norfolk Southern by 5.1% in the second quarter. NewEdge Advisors LLC now owns 16,099 shares of the railroad operator’s stock valued at $3,456,000 after acquiring an additional 784 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Norfolk Southern by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,528 shares of the railroad operator’s stock valued at $6,339,000 after purchasing an additional 960 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Norfolk Southern during the 2nd quarter valued at $39,000. Creekside Partners acquired a new position in Norfolk Southern during the second quarter worth $211,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Norfolk Southern in the second quarter valued at $9,937,000. Institutional investors 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.