Bank of America Has Lowered Expectations for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its price target lowered by Bank of America from $292.00 to $272.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the railroad operator’s stock. Bank of America‘s target price would indicate a potential upside of 15.42% from the stock’s current price.

Several other equities research analysts have also commented on NSC. Stephens upped their target price on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Loop Capital cut Norfolk Southern from a “buy” rating to a “hold” rating and cut their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Susquehanna cut their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of “Moderate Buy” and an average price target of $275.63.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $235.65 on Tuesday. The stock has a market capitalization of $53.36 billion, a PE ratio of 20.39, a PEG ratio of 2.31 and a beta of 1.35. The business’s 50 day simple moving average is $245.81 and its 200 day simple moving average is $249.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, research analysts forecast that Norfolk Southern will post 13 earnings per share for the current year.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Norfolk Southern

Large investors have recently made changes to their positions in the business. Raab & Moskowitz Asset Management LLC boosted its holdings in shares of Norfolk Southern by 2.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its position in shares of Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock valued at $71,000 after acquiring an additional 44 shares during the period. CoreCap Advisors LLC increased its stake in shares of Norfolk Southern by 1.5% during the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock worth $727,000 after purchasing an additional 45 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of Norfolk Southern by 0.7% in the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after purchasing an additional 46 shares during the period. Finally, Signal Advisors Wealth LLC lifted its stake in Norfolk Southern by 5.4% in the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock valued at $225,000 after purchasing an additional 49 shares during the last quarter. 75.10% of the stock is 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.