Norfolk Southern (NYSE:NSC) Price Target Increased to $259.00 by Analysts at TD Cowen

Norfolk Southern (NYSE:NSC) had its price objective hoisted by equities research analysts at TD Cowen from $253.00 to $259.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the railroad operator’s stock. TD Cowen’s price target would indicate a potential upside of 2.20% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Stephens reiterated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday. Barclays increased their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday. Stifel Nicolaus raised their price target on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Susquehanna raised their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $253.42 on Wednesday. The business’s fifty day moving average is $248.76 and its two-hundred day moving average is $236.88. The firm has a market cap of $57.25 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66.

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

Insider Buying and Selling 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Norfolk Southern news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’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 sale, the chief executive officer now owns 35,045 shares of the company’s stock, 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $1,676,000. Manning & Napier Advisors LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter worth $13,627,000. Broderick Brian C acquired a new position in shares of Norfolk Southern during the 1st quarter worth $956,000. OFI Invest Asset Management acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $846,000. Finally, Hoxton Planning & Management LLC acquired a new stake in Norfolk Southern in the third quarter valued at approximately $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.