Norfolk Southern (NYSE:NSC) PT Raised to $280.00 at Wells Fargo & Company

Norfolk Southern (NYSE:NSC) had its price target increased by analysts at Wells Fargo & Company from $270.00 to $280.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 9.10% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup raised their target price on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein upped their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price target on Norfolk Southern from $265.00 to $276.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Benchmark upped their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.11.

Norfolk Southern Price Performance

Shares of NSC stock traded down $3.78 during midday trading on Wednesday, reaching $256.65. 210,665 shares of the company traded hands, compared to its average volume of 1,253,303. The firm’s 50 day simple moving average is $248.46 and its two-hundred day simple moving average is $236.73. The firm has a market cap of $57.98 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued 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 $3.10 by $0.15. 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 19.64% and a net margin of 14.85%. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. On average, equities research analysts expect that Norfolk Southern will post 11.79 EPS for the current fiscal year.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated 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 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now directly 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 owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $1,676,000. Manning & Napier Advisors LLC acquired a new stake in Norfolk Southern during the second quarter valued at approximately $13,627,000. Broderick Brian C bought a new position in Norfolk Southern during the 1st quarter worth approximately $956,000. OFI Invest Asset Management acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $846,000. Finally, Hoxton Planning & Management LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at approximately $583,000. 75.10% of the stock is currently owned by 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.