Robert W. Baird Forecasts Strong Price Appreciation for Norfolk Southern (NYSE:NSC) Stock

Key Points

• Robert W. Baird raised Norfolk Southern’s price target to $377 from $360 while maintaining a “neutral” rating, implying about 7.2% upside from the stock’s $351.69 price.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and average price target of $345.35; seven analysts rate the stock a Buy versus sixteen Holds.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 in earnings per share versus the $3.32 consensus and $3.46 billion in revenue, up 12.5% year over year.

Norfolk Southern (NYSE:NSC - Get Free Report) had its price target raised by stock analysts at Robert W. Baird from $360.00 to $377.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the railroad operator's stock. Robert W. Baird's target price would indicate a potential upside of 7.20% from the stock's current price.

Several other equities analysts also recently issued reports on NSC. Royal Bank Of Canada upped their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday. Sanford C. Bernstein lowered their target price on shares of Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research report on Friday. Stephens upgraded shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Finally, Susquehanna raised their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and a consensus target price of $345.35.

Norfolk Southern Stock Up 0.3%

Shares of NSC stock opened at $351.69 on Monday. The stock's fifty day moving average price is $317.37 and its 200 day moving average price is $306.29. Norfolk Southern has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a market cap of $78.99 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 6.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm's revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $3.29 earnings per share. On average, research analysts expect that Norfolk Southern will post 12.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPL Wealth Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter worth about $25,000. BNP Paribas acquired a new position in Norfolk Southern in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners purchased a new stake in Norfolk Southern in the 1st quarter worth approximately $33,000. Finally, Bayban acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 75.10% of the company's stock.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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