Susquehanna Boosts Norfolk Southern (NYSE:NSC) Price Target to $304.00

Norfolk Southern (NYSE:NSC) had its price objective hoisted by equities research analysts at Susquehanna from $288.00 to $304.00 in a report released on Monday,MarketScreener reports. The firm currently has a “neutral” rating on the railroad operator’s stock. Susquehanna’s price target indicates a potential upside of 4.52% from the company’s previous close.

Other equities analysts have also issued reports about the stock. TD Cowen reduced their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Sanford C. Bernstein cut their price target on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Evercore ISI upped their price objective on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Barclays boosted their target price on Norfolk Southern from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $303.52.

Norfolk Southern Stock Up 1.6%

Shares of NSC traded up $4.48 on Monday, hitting $290.85. The company’s stock had a trading volume of 1,070,855 shares, compared to its average volume of 949,865. The firm’s fifty day moving average price is $289.32 and its 200-day moving average price is $283.60. Norfolk Southern has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $65.26 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 4.98 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted $3.25 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Norfolk Southern will post 13 EPS for the current year.

Insider Buying and Selling

In related news, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of the company’s stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This represents a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 4,454 shares of company stock worth $1,259,874 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NSC. Pentwater Capital Management LP acquired a new stake in Norfolk Southern in the 3rd quarter valued at about $826,128,000. Norges Bank acquired a new position in Norfolk Southern during the second quarter worth approximately $613,255,000. Kingstone Capital Partners Texas LLC bought a new stake in Norfolk Southern in the second quarter valued at approximately $321,393,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after buying an additional 1,103,748 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $329,629,000. Institutional investors own 75.10% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.