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

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

NSC has been the subject of a number of other reports. Citigroup increased their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their price target on Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen increased their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $269.11.

Norfolk Southern Stock Performance

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

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.10 by $0.15. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 earnings per share. As a group, research analysts expect that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sameh Fahmy bought 700 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the transaction, 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 disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NSC. Seven Eight Capital LP bought a new stake in Norfolk Southern in the second quarter worth $1,676,000. Manning & Napier Advisors LLC acquired a new stake in shares of Norfolk Southern in the second quarter worth about $13,627,000. Broderick Brian C bought a new stake in shares of Norfolk Southern during the 1st quarter worth about $956,000. OFI Invest Asset Management acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at about $846,000. Finally, Hoxton Planning & Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $583,000. 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.