JPMorgan Chase & Co. Raises Norfolk Southern (NYSE:NSC) Price Target to $288.00

Norfolk Southern (NYSE:NSC) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $283.00 to $288.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 13.65% from the company’s current price.

Other analysts have also recently issued reports about the stock. Morgan Stanley restated an “underweight” rating and set a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. Wells Fargo & Company lifted their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Benchmark lifted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI cut their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Stock Down 1.4 %

NSC stock opened at $253.42 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a 50 day moving average of $248.76 and a 200 day moving average of $236.88. The stock has a market capitalization of $57.30 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business posted $2.65 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern will post 11.78 earnings per share for the current year.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy acquired 700 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Several large investors have recently modified their holdings of the business. Lake Street Advisors Group LLC lifted its stake in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. lifted its stake in shares of Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after purchasing an additional 42 shares during the last quarter. Blue Chip Partners LLC lifted its stake in shares of Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after purchasing an additional 42 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after purchasing an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its stake in shares of Norfolk Southern by 4.2% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.