Norfolk Southern (NYSE:NSC) Price Target Raised to $305.00 at Sanford C. Bernstein

Norfolk Southern (NYSE:NSC - Get Free Report) had its target price increased by investment analysts at Sanford C. Bernstein from $295.00 to $305.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the railroad operator's stock. Sanford C. Bernstein's price target would suggest a potential upside of 9.98% from the company's previous close.

A number of other research firms have also weighed in on NSC. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research report on Monday, June 2nd. Baird R W upgraded shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Susquehanna reiterated a "neutral" rating and issued a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday. Finally, UBS Group lifted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $278.25.

Norfolk Southern Price Performance

Norfolk Southern stock traded up $0.66 during mid-day trading on Monday, hitting $277.32. The stock had a trading volume of 1,688,614 shares, compared to its average volume of 1,270,260. The firm's 50 day moving average is $252.39 and its 200 day moving average is $241.81. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $62.52 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.27 and a beta of 1.31. Norfolk Southern has a one year low of $201.63 and a one year high of $285.11.

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

Hedge Funds Weigh In On Norfolk Southern

A number of large investors have recently modified their holdings of NSC. WPG Advisers LLC purchased a new stake in Norfolk Southern during the first quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Putney Financial Group LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth approximately $30,000. Greenline Partners LLC acquired a new position in Norfolk Southern in the fourth quarter valued at approximately $31,000. Finally, HWG Holdings LP acquired a new position in Norfolk Southern during the first quarter worth $35,000. 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.