Norfolk Southern (NYSE:NSC) Price Target Lowered to $300.00 at Wells Fargo & Company

Norfolk Southern (NYSE:NSC) had its target price cut by analysts at Wells Fargo & Company from $320.00 to $300.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 25.78% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Benchmark upped their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their target price on 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 raised their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, TD Cowen raised their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.74.

Norfolk Southern Trading Up 0.7 %

NSC stock traded up $1.55 during midday trading on Tuesday, hitting $238.51. The stock had a trading volume of 113,592 shares, compared to its average volume of 813,453. The firm has a market cap of $53.96 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. The company’s 50-day moving average price is $254.48 and its 200 day moving average price is $245.33. Norfolk Southern has a 12-month low of $206.71 and a 12-month 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 released its quarterly earnings data 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. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Norfolk Southern’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 earnings per share. On average, equities research analysts predict that Norfolk Southern will post 11.82 earnings per share for the current fiscal year.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern in the third quarter worth approximately $25,000. Morse Asset Management Inc acquired a new stake in shares of Norfolk Southern in the third quarter valued at $30,000. HWG Holdings LP bought a new position in Norfolk Southern during the second quarter valued at about $31,000. Coastline Trust Co acquired a new position in Norfolk Southern during the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP bought a new stake in Norfolk Southern in the third quarter worth about $33,000. 75.10% of the stock is currently owned by institutional investors.

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.