Norfolk Southern (NYSE:NSC) Price Target Cut to $290.00 by Analysts at Barclays

Norfolk Southern (NYSE:NSC) had its price objective decreased by stock analysts at Barclays from $305.00 to $290.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the railroad operator’s stock. Barclays‘s price objective would suggest a potential upside of 23.00% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Stephens raised their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted 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. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Robert W. Baird upped their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $274.05.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $0.83 during trading hours on Wednesday, reaching $235.78. 46,838 shares of the company’s stock were exchanged, compared to its average volume of 1,207,576. 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 $53.39 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.31 and a beta of 1.35. The business has a fifty day moving average price of $244.81 and a 200-day moving average price of $248.86. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts predict that Norfolk Southern will post 13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere acquired 607 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

A number of hedge funds have recently made changes to their positions in NSC. United Bank increased its holdings in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after purchasing an additional 204 shares during the last quarter. Benjamin Edwards Inc. bought a new position in Norfolk Southern during the third quarter worth about $1,346,000. Hilltop Holdings Inc. raised its stake in Norfolk Southern by 34.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,830 shares of the railroad operator’s stock worth $703,000 after purchasing an additional 724 shares in the last quarter. Investment Management Corp of Ontario boosted its holdings in Norfolk Southern by 47.5% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,457 shares of the railroad operator’s stock valued at $1,853,000 after purchasing an additional 2,400 shares during the period. Finally, Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $30,000. 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.