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

Norfolk Southern (NYSE:NSC – Get Rating) had its target price cut by equities researchers at Cowen from $331.00 to $316.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Cowen’s price target would suggest a potential upside of 28.82% from the stock’s previous close.

Several other brokerages have also recently weighed in on NSC. Credit Suisse Group upped their price target on Norfolk Southern from $267.00 to $277.00 and gave the stock a “maintains” rating in a research note on Thursday. StockNews.com initiated coverage on Norfolk Southern in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Susquehanna cut their target price on Norfolk Southern from $350.00 to $275.00 in a research note on Wednesday, July 6th. Wells Fargo & Company cut their target price on Norfolk Southern from $340.00 to $274.00 and set an “overweight” rating on the stock in a research note on Friday, July 15th. Finally, Stifel Nicolaus raised Norfolk Southern from a “hold” rating to a “buy” rating and cut their target price for the stock from $289.00 to $275.00 in a research note on Friday, July 15th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.40.

Norfolk Southern Trading Up 0.9 %

Shares of NSC traded up $2.07 during mid-day trading on Thursday, hitting $245.31. 12,669 shares of the company’s stock traded hands, compared to its average volume of 1,352,912. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 1.02. Norfolk Southern has a 1 year low of $217.00 and a 1 year high of $299.20. The firm has a market capitalization of $58.47 billion, a P/E ratio of 19.80, a PEG ratio of 1.73 and a beta of 1.33. The business’s 50-day moving average price is $231.99 and its 200-day moving average price is $255.54.

Norfolk Southern (NYSE:NSC – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.03). The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.28 earnings per share. As a group, sell-side analysts forecast that Norfolk Southern will post 13.77 EPS for the current fiscal year.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $241.84, for a total value of $241,840.00. Following the completion of the sale, the chief executive officer now owns 34,255 shares in the company, valued at $8,284,229.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Norfolk Southern

Several institutional investors have recently made changes to their positions in NSC. NuWave Investment Management LLC purchased a new stake in shares of Norfolk Southern during the second quarter worth about $25,000. Vectors Research Management LLC grew its holdings in Norfolk Southern by 468.8% during the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Blume Capital Management Inc. purchased a new position in Norfolk Southern during the 1st quarter valued at approximately $29,000. Worth Asset Management LLC purchased a new position in Norfolk Southern during the 1st quarter valued at approximately $30,000. Finally, Concord Wealth Partners grew its holdings in Norfolk Southern by 2,300.0% during the 1st quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Norfolk Southern Company Profile

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.