Bank of America Cuts Norfolk Southern (NYSE:NSC) Price Target to $272.00

Norfolk Southern (NYSE:NSC) had its price target lowered by research analysts at Bank of America from $292.00 to $272.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the railroad operator’s stock. Bank of America‘s target price indicates a potential upside of 15.20% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.63.

Norfolk Southern Stock Up 1.9 %

NYSE:NSC opened at $236.11 on Tuesday. The company’s 50-day simple moving average is $246.01 and its 200-day simple moving average is $249.63. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The stock has a market capitalization of $53.46 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, equities analysts anticipate that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Norfolk Southern

A number of institutional investors have recently modified their holdings of the company. Financial Life Planners acquired a new stake in Norfolk Southern during the 4th quarter worth approximately $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Norfolk Southern during the fourth quarter worth approximately $27,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern in the third quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $28,000. 75.10% of the stock is owned by institutional investors and hedge funds.

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.