Norfolk Southern (NYSE:NSC) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $154.00 to $151.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the railroad operator’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 0.71% from the stock’s current price.
A number of other brokerages have also commented on NSC. ValuEngine lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank of Canada reiterated a “sell” rating and set a $137.00 price target on shares of Norfolk Southern in a report on Tuesday, January 9th. Cowen reiterated an “outperform” rating and set a $165.00 price target (up from $143.00) on shares of Norfolk Southern in a report on Thursday. Credit Suisse Group lifted their price target on Norfolk Southern from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Morgan Stanley lifted their price target on Norfolk Southern from $77.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $139.90.
Shares of Norfolk Southern (NSC) traded down $1.72 during trading on Thursday, reaching $149.94. The company’s stock had a trading volume of 2,927,900 shares, compared to its average volume of 1,882,206. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. Norfolk Southern has a 12-month low of $109.27 and a 12-month high of $157.15. The firm has a market capitalization of $42,930.00, a PE ratio of 22.68, a PEG ratio of 1.65 and a beta of 1.37.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total transaction of $319,262.70. Following the sale, the vice president now directly owns 6,370 shares of the company’s stock, valued at $858,102.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 6,175 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $129.61, for a total value of $800,341.75. Following the sale, the vice president now directly owns 7,568 shares in the company, valued at $980,888.48. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of NSC. Commonwealth Bank of Australia increased its holdings in shares of Norfolk Southern by 2,921.5% in the third quarter. Commonwealth Bank of Australia now owns 1,277,777 shares of the railroad operator’s stock worth $168,353,000 after purchasing an additional 1,235,488 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Norfolk Southern by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after purchasing an additional 925,496 shares during the last quarter. FMR LLC increased its holdings in shares of Norfolk Southern by 13.0% in the second quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock worth $805,530,000 after purchasing an additional 762,416 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Norfolk Southern by 3.6% in the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after purchasing an additional 700,567 shares during the last quarter. Finally, Investec Asset Management LTD increased its holdings in shares of Norfolk Southern by 83.8% in the second quarter. Investec Asset Management LTD now owns 1,521,453 shares of the railroad operator’s stock worth $185,161,000 after purchasing an additional 693,463 shares during the last quarter. 72.56% of the stock is currently owned by institutional investors and hedge funds.
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Norfolk Southern Company Profile
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.
