Norfolk Southern (NYSE:NSC) Given New $316.00 Price Target at Citigroup

Norfolk Southern (NYSE:NSC) had its price objective raised by equities research analysts at Citigroup from $302.00 to $316.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the railroad operator’s stock. Citigroup’s price objective would suggest a potential upside of 17.73% from the stock’s previous close.

A number of other analysts also recently issued reports on NSC. Loop Capital lifted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Evercore ISI lowered their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their target price on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.89.

Norfolk Southern Stock Down 1.0 %

NYSE NSC traded down $2.71 on Tuesday, reaching $268.40. 577,698 shares of the stock traded hands, compared to its average volume of 1,256,431. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The company has a fifty day moving average price of $252.07 and a 200-day moving average price of $238.05. The company has a market cap of $60.72 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.58 and a beta of 1.30. Norfolk Southern has a 12 month low of $195.76 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates 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 20.25% and a net margin of 19.85%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 earnings per share. As a group, research analysts forecast that Norfolk Southern will post 11.81 EPS for the current fiscal year.

Insider Activity

In related news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $25,000. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the 2nd quarter worth $27,000. Coastline Trust Co purchased a new position in Norfolk Southern during the 3rd quarter worth $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Norfolk Southern in the 3rd quarter worth about $33,000. Institutional investors 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.