Evercore ISI Lowers Norfolk Southern (NYSE:NSC) Price Target to $274.00

Norfolk Southern (NYSE:NSC) had its target price decreased by investment analysts at Evercore ISI from $276.00 to $274.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the railroad operator’s stock. Evercore ISI’s target price would indicate a potential upside of 8.12% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. UBS Group upped their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Benchmark upped their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Stock Down 1.4 %

Shares of NSC opened at $253.42 on Wednesday. The stock’s 50-day moving average price is $248.76 and its two-hundred day moving average price is $236.88. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a market capitalization of $57.30 billion, a PE ratio of 23.80, a PEG ratio of 2.48 and a beta of 1.31. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern will post 11.78 EPS for the current year.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Richard H. Anderson acquired 2,000 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The stock was acquired at an average cost of $247.48 per share, with a total value of $494,960.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

A number of institutional investors and hedge funds have recently modified their holdings of NSC. Orrstown Financial Services Inc. purchased a new position in Norfolk Southern in the third quarter worth $276,000. Richardson Financial Services Inc. grew its position in Norfolk Southern by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 356 shares of the railroad operator’s stock valued at $82,000 after buying an additional 178 shares during the period. Park Edge Advisors LLC purchased a new stake in Norfolk Southern during the third quarter worth about $229,000. Pullen Investment Management LLC raised its position in Norfolk Southern by 2.0% in the third quarter. Pullen Investment Management LLC now owns 4,394 shares of the railroad operator’s stock worth $1,092,000 after acquiring an additional 86 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in Norfolk Southern by 70.7% in the third quarter. Frank Rimerman Advisors LLC now owns 3,177 shares of the railroad operator’s stock worth $789,000 after acquiring an additional 1,316 shares during the period. 75.10% of the stock is owned by hedge funds and other 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.