Benchmark Reiterates Buy Rating for Norfolk Southern (NYSE:NSC)

Norfolk Southern (NYSE:NSC)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a note issued to investors on Thursday,Benzinga reports. They presently have a $285.00 price objective on the railroad operator’s stock. Benchmark’s price objective points to a potential upside of 10.25% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Stephens increased their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank of Canada increased their target price on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Evercore ISI dropped their target price on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays increased their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Citigroup increased their target price on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $277.94.

Norfolk Southern Price Performance

Shares of NSC traded up $1.77 during midday trading on Thursday, reaching $258.51. The stock had a trading volume of 224,532 shares, compared to its average volume of 1,220,399. The company’s 50-day moving average is $249.36 and its 200 day moving average is $248.69. Norfolk Southern has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $58.49 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. On average, equities analysts predict that Norfolk Southern will post 11.78 EPS for the current fiscal year.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Norfolk Southern

Institutional investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth $25,000. Financial Life Planners purchased a new position in shares of Norfolk Southern in the 4th quarter worth $27,000. Keystone Financial Group Inc. purchased a new position in shares of Norfolk Southern in the 4th quarter worth $27,000. Morse Asset Management Inc purchased a new position in Norfolk Southern during the third quarter valued at $30,000. Finally, Coastline Trust Co purchased a new position in Norfolk Southern during the third quarter valued at $32,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

About Norfolk Southern

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.