Norfolk Southern (NYSE:NSC) had its price target upped by analysts at Morgan Stanley from $77.00 to $100.00 in a research note issued on Thursday. The firm currently has an “underweight” rating on the railroad operator’s stock. Morgan Stanley’s price objective would suggest a potential downside of 32.69% from the stock’s current price.
Several other analysts have also commented on the stock. Credit Suisse Group raised their price objective on shares of Norfolk Southern from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday. Cowen reiterated an “outperform” rating and set a $165.00 target price (up from $143.00) on shares of Norfolk Southern in a report on Thursday. Royal Bank of Canada upgraded shares of Norfolk Southern from an “underperform” rating to a “sector perform” rating in a report on Wednesday. Cleveland Research reiterated a “hold” rating on shares of Norfolk Southern in a report on Monday, January 15th. Finally, Scotiabank upgraded shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 target price for the company in a report on Friday, January 12th. Three investment 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. Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $139.90.
Shares of Norfolk Southern (NYSE:NSC) traded down $1.38 during trading hours on Thursday, hitting $148.57. The stock had a trading volume of 549,860 shares, compared to its average volume of 1,882,206. Norfolk Southern has a 52-week low of $109.27 and a 52-week high of $157.15. The company has a market capitalization of $42,930.00, a PE ratio of 22.48, a P/E/G ratio of 1.65 and a beta of 1.37. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 6,175 shares of the business’s stock in a transaction that occurred 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 owns 7,568 shares in the company, valued at approximately $980,888.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 2,370 shares of the business’s stock in a transaction that occurred 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 owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Krilogy Financial LLC raised its stake in shares of Norfolk Southern by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after purchasing an additional 22 shares during the period. Sawyer & Company Inc acquired a new position in Norfolk Southern in the fourth quarter worth $104,000. Harfst & Associates Inc. boosted its holdings in Norfolk Southern by 58.8% in the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after purchasing an additional 350 shares during the period. Atlantic Trust LLC bought a new stake in Norfolk Southern in the second quarter valued at $144,000. Finally, Advantage Investment Management LLC lifted its stake in Norfolk Southern by 43.6% in the third quarter. Advantage Investment Management LLC now owns 1,363 shares of the railroad operator’s stock valued at $180,000 after buying an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 72.56% of the company’s stock.
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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.
