Norfolk Southern Corp. (NYSE:NSC) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities research analysts have also commented on NSC. Oppenheimer Holdings Inc. initiated coverage on Norfolk Southern Corp. in a research report on Wednesday, June 15th. They set a “market perform” rating for the company. Citigroup Inc. restated a “hold” rating and set a $87.00 price objective on shares of Norfolk Southern Corp. in a research report on Friday, June 17th. BMO Capital Markets restated a “market perform” rating and set a $93.00 price objective on shares of Norfolk Southern Corp. in a research report on Thursday, July 7th. Credit Suisse Group AG decreased their price objective on Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Deutsche Bank AG decreased their price objective on Norfolk Southern Corp. from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.62.

Analyst Recommendations for Norfolk Southern Corp. (NYSE:NSC)

Norfolk Southern Corp. (NYSE:NSC) opened at 95.83 on Tuesday. The firm has a market cap of $28.13 billion, a P/E ratio of 17.95 and a beta of 1.27. Norfolk Southern Corp. has a 52 week low of $64.51 and a 52 week high of $98.75. The company has a 50-day moving average of $93.73 and a 200 day moving average of $88.24.

Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The firm earned $2.45 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $1.41 EPS. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Corp. will post $5.46 earnings per share for the current year.

In related news, VP Thomas E. Hurlbut sold 528 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $88.35, for a total value of $46,648.80. Following the sale, the vice president now owns 11,580 shares of the company’s stock, valued at approximately $1,023,093. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James A. Hixon sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the vice president now directly owns 129,074 shares in the company, valued at approximately $12,152,317.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Lincoln National Corp increased its position in shares of Norfolk Southern Corp. by 0.3% in the second quarter. Lincoln National Corp now owns 5,888 shares of the railroad operator’s stock valued at $501,000 after buying an additional 16 shares during the last quarter. Ronna Sue Cohen increased its position in shares of Norfolk Southern Corp. by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,932 shares of the railroad operator’s stock valued at $420,000 after buying an additional 17 shares during the last quarter. Pitcairn Co. increased its position in shares of Norfolk Southern Corp. by 0.9% in the second quarter. Pitcairn Co. now owns 2,527 shares of the railroad operator’s stock valued at $215,000 after buying an additional 23 shares during the last quarter. Choate Investment Advisors increased its position in shares of Norfolk Southern Corp. by 0.4% in the second quarter. Choate Investment Advisors now owns 5,994 shares of the railroad operator’s stock valued at $510,000 after buying an additional 24 shares during the last quarter. Finally, Reliance Trust Co. of Delaware increased its position in shares of Norfolk Southern Corp. by 0.3% in the second quarter. Reliance Trust Co. of Delaware now owns 16,353 shares of the railroad operator’s stock valued at $1,392,000 after buying an additional 42 shares during the last quarter. 67.90% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Southern Corp.

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 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.

5 Day Chart for NYSE:NSC

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