Norfolk Souther Corporation (NYSE:NSC) had its price objective increased by J P Morgan Chase & Co from $121.00 to $132.00 in a research report report published on Thursday morning. The brokerage currently has a neutral rating on the railroad operator’s stock.

NSC has been the subject of a number of other reports. Credit Suisse Group restated an outperform rating and issued a $133.00 target price (down from $139.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada restated a sell rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. ValuEngine upgraded Norfolk Souther Corporation from a hold rating to a buy rating in a research report on Friday, September 1st. Deutsche Bank AG downgraded Norfolk Souther Corporation from a buy rating to a hold rating and cut their target price for the stock from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, Stifel Nicolaus restated a hold rating and issued a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. Norfolk Souther Corporation currently has an average rating of Hold and a consensus price target of $118.38.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share.

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Norfolk Souther Corporation announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 26th that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the railroad operator to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Norfolk Souther Corporation news, COO Michael Joseph Wheeler sold 2,370 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $118.68, for a total transaction of $281,271.60. Following the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the business’s 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 sale, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,077 shares of company stock worth $3,244,531. Company insiders own 0.36% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. D Orazio & Associates Inc. raised its stake in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after purchasing an additional 4 shares during the period. QCI Asset Management Inc. NY grew its holdings in shares of Norfolk Souther Corporation by 0.5% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock valued at $134,000 after acquiring an additional 5 shares in the last quarter. Alexandria Capital LLC grew its holdings in shares of Norfolk Souther Corporation by 0.4% during the 2nd quarter. Alexandria Capital LLC now owns 1,865 shares of the railroad operator’s stock valued at $227,000 after acquiring an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of Norfolk Souther Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,126 shares of the railroad operator’s stock valued at $126,000 after acquiring an additional 8 shares in the last quarter. Finally, Ronna Sue Cohen grew its holdings in shares of Norfolk Souther Corporation by 0.5% during the 2nd quarter. Ronna Sue Cohen now owns 2,761 shares of the railroad operator’s stock valued at $336,000 after acquiring an additional 13 shares in the last quarter. 70.60% of the stock is currently owned by institutional investors.

Norfolk Souther Corporation Company Profile

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.

Analyst Recommendations for Norfolk Souther Corporation (NYSE:NSC)

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