UBS Group Increases Norfolk Southern (NYSE:NSC) Price Target to $309.00

by · The Markets Daily

Norfolk Southern (NYSE:NSC – Get Free Report) had its price objective hoisted by stock analysts at UBS Group from $289.00 to $309.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the railroad operator’s stock. UBS Group’s price objective would indicate a potential upside of 21.93% from the stock’s current price.

NSC has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Citigroup increased their target price on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Benchmark increased their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Read Our Latest Stock Report on Norfolk Southern

Norfolk Southern Price Performance

NSC stock opened at $253.42 on Wednesday. Norfolk Southern has a one year low of $183.09 and a one year high of $263.66. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $57.30 billion, a PE ratio of 23.80, a P/E/G ratio of 2.48 and a beta of 1.31. The firm has a 50-day moving average of $248.76 and a two-hundred day moving average of $236.88.

Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Norfolk Southern’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 earnings per share. On average, analysts forecast that Norfolk Southern will post 11.78 earnings per share for the current year.

Insider Buying and Selling

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Trading of Norfolk Southern

Several hedge funds have recently added to or reduced their stakes in NSC. Orrstown Financial Services Inc. bought a new stake in shares of Norfolk Southern in the third quarter worth about $276,000. Richardson Financial Services Inc. grew its position in shares of Norfolk Southern by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 356 shares of the railroad operator’s stock valued at $82,000 after purchasing an additional 178 shares during the period. Park Edge Advisors LLC bought a new stake in Norfolk Southern during the 3rd quarter worth approximately $229,000. Pullen Investment Management LLC raised its holdings in Norfolk Southern by 2.0% during the 3rd quarter. Pullen Investment Management LLC now owns 4,394 shares of the railroad operator’s stock worth $1,092,000 after buying an additional 86 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Norfolk Southern by 70.7% in the third quarter. Frank Rimerman Advisors LLC now owns 3,177 shares of the railroad operator’s stock valued at $789,000 after buying an additional 1,316 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

About Norfolk Southern

(Get Free Report)

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.

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