Norfolk Southern (NYSE:NSC) Price Target Cut to $314.00 by Analysts at TD Cowen

Key Points

• Norfolk Southern had its price target lowered from $320.00 to $314.00 by TD Cowen, while still maintaining a "buy" rating, indicating a potential upside of 10.61% from the last close.
• In addition, various analysts have given mixed price targets, with Deutsche Bank raising their target to $354.00, while several others have set targets ranging from $288.00 to $305.00.
• The stock currently holds a consensus rating of "Hold" among analysts, with 8 rating it as a buy and 14 as hold, while the consensus price target stands at $293.35.

Norfolk Southern (NYSE:NSC - Get Free Report) had its price objective cut by research analysts at TD Cowen from $320.00 to $314.00 in a research note issued on Friday. The firm currently has a "buy" rating on the railroad operator's stock. TD Cowen's target price suggests a potential upside of 10.61% from the company's previous close.

Several other analysts also recently commented on NSC. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Norfolk Southern from $290.00 to $354.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Robert W. Baird raised their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group restated a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and a consensus price target of $293.35.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $283.89 on Friday. The firm's 50 day simple moving average is $285.79 and its 200-day simple moving average is $261.68. The company has a market cap of $63.77 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.59 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern has a fifty-two week low of $201.63 and a fifty-two week high of $302.24.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.11 billion. During the same period last year, the business earned $3.25 earnings per share. The business's revenue was up .0% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern will post 13 EPS for the current year.

Institutional Trading of Norfolk Southern

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its position in shares of Norfolk Southern by 31.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,631 shares of the railroad operator's stock valued at $7,700,000 after acquiring an additional 6,121 shares in the last quarter. Joseph Group Capital Management acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $132,000. Nisa Investment Advisors LLC boosted its position in shares of Norfolk Southern by 5.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 101,476 shares of the railroad operator's stock valued at $30,484,000 after acquiring an additional 5,627 shares in the last quarter. Summit Wealth Group LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter valued at about $361,000. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 9.9% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,122 shares of the railroad operator's stock valued at $337,000 after acquiring an additional 101 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.