Norfolk Southern (NYSE:NSC) Price Target Raised to $287.00 at Loop Capital

Norfolk Southern (NYSE:NSC) had its price target increased by investment analysts at Loop Capital from $285.00 to $287.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the railroad operator’s stock. Loop Capital’s target price would suggest a potential upside of 12.27% from the company’s current price.

NSC has been the subject of several other research reports. Citigroup boosted their price target on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group upped their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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. 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 research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.32.

Norfolk Southern Stock Down 1.8 %

Shares of NYSE:NSC traded down $4.80 on Wednesday, hitting $255.63. 531,184 shares of the company traded hands, compared to its average volume of 1,254,867. The company has a market cap of $57.75 billion, a PE ratio of 41.35, a PEG ratio of 2.33 and a beta of 1.31. The stock has a 50 day simple moving average of $248.46 and a 200-day simple moving average of $236.73. 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.

Norfolk Southern (NYSE:NSC) last issued 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 $3.10 by $0.15. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. As a group, research analysts expect that Norfolk Southern will post 11.79 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dakota Wealth Management raised its holdings in Norfolk Southern by 2.1% during the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after buying an additional 150 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Norfolk Southern by 4,083.0% in the third quarter. Assenagon Asset Management S.A. now owns 325,270 shares of the railroad operator’s stock valued at $80,830,000 after acquiring an additional 317,494 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Norfolk Southern by 19.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 67,561 shares of the railroad operator’s stock worth $16,789,000 after acquiring an additional 10,890 shares during the last quarter. Pinnacle West Asset Management Inc. boosted its stake in shares of Norfolk Southern by 1.6% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 4,045 shares of the railroad operator’s stock worth $1,005,000 after purchasing an additional 65 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Norfolk Southern by 23,037.4% during the 3rd quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock valued at $86,762,000 after purchasing an additional 347,634 shares during the last quarter. Hedge funds and other 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.