Loop Capital Increases Norfolk Southern (NSC) Price Target to $144.00

Norfolk Southern (NYSE:NSC) had its price target increased by research analysts at Loop Capital to $144.00 in a report released on Friday, The Fly reports. The brokerage presently has a “sell” rating on the railroad operator’s stock. Loop Capital’s price objective would suggest a potential downside of 6.51% from the stock’s previous close.

Several other brokerages have also issued reports on NSC. Zacks Investment Research lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $127.00 to $135.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. TD Securities lifted their price objective on shares of Norfolk Southern from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Aegis reissued a “hold” rating and set a $125.00 price objective (up previously from $120.00) on shares of Norfolk Southern in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $131.30.

Norfolk Southern (NSC) opened at $154.03 on Friday. The stock has a market cap of $44,080.00, a PE ratio of 24.49, a PEG ratio of 1.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern has a one year low of $105.89 and a one year high of $154.64.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. sell-side analysts expect that Norfolk Southern will post 6.47 earnings per share for the current fiscal year.

Norfolk Southern declared that its Board of Directors has authorized a share buyback program on Tuesday, September 26th that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the railroad operator to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other Norfolk Southern news, VP Thomas E. Hurlbut sold 6,175 shares of Norfolk Southern stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $129.61, for a total transaction of $800,341.75. Following the completion of the transaction, the vice president now directly owns 7,568 shares of the company’s stock, valued at $980,888.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 2,370 shares of Norfolk Southern stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total transaction of $319,262.70. Following the transaction, the vice president now directly owns 6,370 shares of the company’s stock, valued at $858,102.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,113 shares of company stock worth $1,594,148. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. J. Goldman & Company bought a new stake in Norfolk Southern during the third quarter worth about $11,854,000. Park National lifted its position in Norfolk Southern by 6.4% during the fourth quarter. Park National now owns 19,133 shares of the railroad operator’s stock worth $1,619,000 after purchasing an additional 1,154 shares during the period. West Oak Capital lifted its position in Norfolk Southern by 5.7% during the fourth quarter. West Oak Capital now owns 12,058 shares of the railroad operator’s stock worth $1,019,986 after purchasing an additional 650 shares during the period. Community Bank & Trust of Waco, Texas bought a new stake in Norfolk Southern during the fourth quarter worth about $874,000. Finally, M. Kraus & Company raised its stake in Norfolk Southern by 2.3% during the fourth quarter. M. Kraus & Company now owns 53,207 shares of the railroad operator’s stock worth $4,501,000 after acquiring an additional 1,208 shares in the last quarter. 72.45% of the stock is owned by institutional investors.

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About Norfolk Southern

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

The Fly

Analyst Recommendations for Norfolk Southern (NYSE:NSC)