Norfolk Southern (NYSE:NSC) PT Raised to $288.00 at JPMorgan Chase & Co.

Norfolk Southern (NYSE:NSC) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $283.00 to $288.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.66% from the stock’s current price.

A number of other brokerages have also commented on NSC. Barclays lifted their price target on shares of Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Benchmark lifted their price objective on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley reissued an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Finally, Stifel Nicolaus boosted their price target on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.32.

Norfolk Southern Stock Down 1.8 %

NSC stock traded down $4.80 during midday trading on Wednesday, hitting $255.63. The company’s stock had a trading volume of 531,184 shares, compared to its average volume of 1,254,867. The firm’s 50-day moving average is $248.46 and its 200-day moving average is $236.73. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a market cap of $57.75 billion, a PE ratio of 41.35, a P/E/G ratio of 2.33 and a beta of 1.31.

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

Insider Transactions at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction 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 directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’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 sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dakota Wealth Management lifted its position in Norfolk Southern by 2.1% during the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after purchasing an additional 150 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Norfolk Southern by 4,083.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 325,270 shares of the railroad operator’s stock valued at $80,830,000 after buying an additional 317,494 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Norfolk Southern by 19.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 67,561 shares of the railroad operator’s stock valued at $16,789,000 after acquiring an additional 10,890 shares during the last quarter. Pinnacle West Asset Management Inc. grew its position in Norfolk Southern by 1.6% in the third quarter. Pinnacle West Asset Management Inc. now owns 4,045 shares of the railroad operator’s stock worth $1,005,000 after acquiring an additional 65 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Norfolk Southern by 23,037.4% during the third quarter. International Assets Investment Management LLC now owns 349,143 shares of the railroad operator’s stock worth $86,762,000 after acquiring an additional 347,634 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.