Norfolk Southern (NYSE:NSC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Norfolk Southern (NYSE:NSC - Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $272.00 to $282.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the railroad operator's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.19% from the company's previous close.

Several other analysts have also recently issued reports on the company. Baird R W raised Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Wells Fargo & Company decreased their price objective on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. UBS Group upped their price objective on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Barclays decreased their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Robert W. Baird started coverage on Norfolk Southern in a report on Tuesday, July 1st. They set a "neutral" rating and a $255.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Norfolk Southern currently has an average rating of "Moderate Buy" and a consensus target price of $273.80.

Norfolk Southern Price Performance

NYSE NSC traded up $3.04 during trading hours on Tuesday, reaching $263.08. The company's stock had a trading volume of 902,927 shares, compared to its average volume of 1,234,522. The firm's 50-day moving average price is $246.32 and its 200-day moving average price is $240.29. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. Norfolk Southern has a 1 year low of $201.63 and a 1 year high of $277.60. The company has a market capitalization of $59.31 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.12 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the firm posted $2.49 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern will post 13 EPS for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Norfolk Southern during the 1st quarter worth $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $28,000. Atlantic Private Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $29,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth $30,000. Finally, Greenline Partners LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter worth $31,000. 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.