Wells Fargo & Company Has Lowered Expectations for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC - Get Free Report) had its price objective dropped by equities research analysts at Wells Fargo & Company from $320.00 to $300.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the railroad operator's stock. Wells Fargo & Company's price target would suggest a potential upside of 26.23% from the company's current price.

NSC has been the topic of a number of other research reports. UBS Group upped their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Susquehanna increased their price objective on Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on Norfolk Southern from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. TD Cowen increased their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. Finally, Benchmark lifted their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $276.74.

Norfolk Southern Stock Up 0.3 %

NSC stock traded up $0.70 during trading on Tuesday, reaching $237.66. 760,790 shares of the stock were exchanged, compared to its average volume of 980,848. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern has a twelve month low of $206.71 and a twelve month high of $277.60. The firm's 50 day moving average is $254.48 and its 200 day moving average is $245.33. The firm has a market cap of $53.77 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $2.65 EPS. As a group, research analysts forecast that Norfolk Southern will post 11.82 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares of the company's stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Institutional Trading of Norfolk Southern

A number of institutional investors have recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC increased its position in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator's stock valued at $563,000 after buying an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC increased its holdings in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator's stock worth $435,000 after acquiring an additional 41 shares during the period. Foster Victor Wealth Advisors LLC lifted its stake in Norfolk Southern by 4.2% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator's stock worth $256,000 after purchasing an additional 42 shares in the last quarter. Stratos Investment Management LLC boosted its holdings in Norfolk Southern by 3.8% in the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator's stock valued at $287,000 after purchasing an additional 42 shares during the period. Finally, Archer Investment Corp grew its position in shares of Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator's stock valued at $481,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

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.