Norfolk Southern (NYSE:NSC) Price Target Raised to $285.00 at Benchmark

Norfolk Southern (NYSE:NSC) had its target price lifted by investment analysts at Benchmark from $270.00 to $285.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the railroad operator’s stock. Benchmark’s target price points to a potential upside of 9.43% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. Morgan Stanley reissued an “underweight” rating and set a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Citigroup lifted their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI lifted their price objective on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.44.

Norfolk Southern Trading Up 4.9 %

NYSE:NSC opened at $260.43 on Wednesday. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The firm has a fifty day simple moving average of $248.46 and a 200-day simple moving average of $236.73. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $58.83 billion, a P/E ratio of 41.94, a PEG ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $2.95 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Norfolk Southern will post 11.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Alan H. Shaw sold 51,325 shares of the company’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 sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors have recently modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of Norfolk Southern during the 2nd quarter valued at about $1,676,000. Manning & Napier Advisors LLC bought a new position in Norfolk Southern during the second quarter valued at approximately $13,627,000. Broderick Brian C acquired a new position in Norfolk Southern during the first quarter valued at approximately $956,000. OFI Invest Asset Management acquired a new position in Norfolk Southern during the second quarter valued at approximately $846,000. Finally, Hoxton Planning & Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter worth $583,000. 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.