Norfolk Southern (NYSE:NSC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Norfolk Southern (NYSE:NSC) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $284.00 to $286.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.40% from the company’s current price.

NSC has been the subject of a number of other research reports. Sanford C. Bernstein raised their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Wells Fargo & Company decreased their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup upped their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.94.

Norfolk Southern Stock Up 0.9 %

Shares of NSC stock traded up $2.31 during trading hours on Thursday, reaching $259.05. 109,035 shares of the company’s stock were exchanged, compared to its average volume of 1,215,178. Norfolk Southern has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The stock has a market cap of $58.61 billion, a PE ratio of 24.31, a PEG ratio of 2.29 and a beta of 1.34. The stock’s fifty day moving average price is $249.36 and its two-hundred day moving average price is $248.69.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Research analysts predict that Norfolk Southern will post 11.78 EPS for the current year.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 350 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Securities USA LLC lifted its position in shares of Norfolk Southern by 18,831.2% during the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after buying an additional 889,925 shares in the last quarter. FMR LLC boosted its position in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Norfolk Southern in the third quarter worth $207,830,000. Finally, Holocene Advisors LP purchased a new stake in shares of Norfolk Southern during the third quarter worth $122,798,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Company Profile

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.