Norfolk Souther Corporation (NYSE:NSC) Upgraded to Buy by Wolfe Research

Norfolk Souther Corporation (NYSE:NSC) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to a “buy” rating in a report issued on Monday, August 7th. The firm presently has a $126.00 price target on the railroad operator’s stock. Wolfe Research’s price target points to a potential upside of 6.21% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Cowen and Company reiterated a “buy” rating and issued a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Tuesday, June 13th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. UBS AG reiterated a “buy” rating and issued a $138.00 price target (up from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Finally, Deutsche Bank AG upped their price target on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Souther Corporation has an average rating of “Hold” and an average target price of $112.35.

Norfolk Souther Corporation (NYSE NSC) traded up 0.96% during mid-day trading on Monday, reaching $118.63. 1,448,245 shares of the company’s stock traded hands. The stock has a 50 day moving average of $118.72 and a 200 day moving average of $118.14. Norfolk Souther Corporation has a 12-month low of $89.92 and a 12-month high of $125.31. The company has a market cap of $34.19 billion, a P/E ratio of 19.28 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities research analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.

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In other news, VP Thomas E. Hurlbut sold 802 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the sale, the vice president now owns 4,300 shares of the company’s stock, valued at $501,122. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now directly owns 76,481 shares in the company, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. D Orazio & Associates Inc. boosted its position in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after buying an additional 4 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Norfolk Souther Corporation by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after buying an additional 12,311 shares during the last quarter. Krilogy Financial LLC boosted its position in Norfolk Souther Corporation by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares during the last quarter. MCF Advisors LLC boosted its position in Norfolk Souther Corporation by 31.4% in the first quarter. MCF Advisors LLC now owns 949 shares of the railroad operator’s stock worth $106,000 after buying an additional 227 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its position in Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Souther Corporation

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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