Norfolk Southern (NYSE:NSC) Given New $290.00 Price Target at Wells Fargo & Company

Norfolk Southern (NYSE:NSC) had its price objective decreased by research analysts at Wells Fargo & Company from $300.00 to $290.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 23.06% from the company’s current price.

Several other research analysts also recently commented on the stock. Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday, January 30th. Stephens upped their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Bank of America reduced their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a research note on Tuesday. Royal Bank of Canada lifted their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.11.

Norfolk Southern Stock Performance

NSC opened at $235.65 on Thursday. Norfolk Southern has a 12-month low of $206.71 and a 12-month high of $277.60. The business has a 50 day moving average of $245.81 and a 200-day moving average of $249.42. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities research analysts expect that Norfolk Southern will post 13 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of large investors have recently bought and sold shares of the stock. United Bank increased its position in shares of Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after buying an additional 204 shares during the period. Qsemble Capital Management LP bought a new position in shares of Norfolk Southern during the third quarter valued at approximately $557,000. FMR LLC lifted its holdings in shares of Norfolk Southern by 48.4% during the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Avestar Capital LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $248,000. Finally, Townsquare Capital LLC grew its stake in shares of Norfolk Southern by 40.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,059 shares of the railroad operator’s stock worth $1,257,000 after buying an additional 1,469 shares during the last quarter. 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.