Zacks Research Upgrades Norfolk Southern (NYSE:NSC) to “Hold”

Norfolk Southern (NYSE:NSC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on NSC. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $354.00 to $297.00 in a research note on Thursday, December 11th. Evercore upped their price objective on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Royal Bank Of Canada decreased their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Finally, Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $304.47.

Norfolk Southern Trading Down 1.7%

NSC traded down $5.17 during trading on Wednesday, hitting $305.75. 395,694 shares of the company’s stock were exchanged, compared to its average volume of 1,235,978. Norfolk Southern has a 1 year low of $201.63 and a 1 year high of $319.94. The stock has a 50 day moving average price of $299.85 and a 200 day moving average price of $291.39. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The firm has a market cap of $68.66 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 5.74 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the company posted $3.04 EPS. Norfolk Southern’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tritonpoint Wealth LLC lifted its position in Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after purchasing an additional 35 shares during the last quarter. Massachusetts Wealth Management raised its holdings in shares of Norfolk Southern by 0.6% during the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after buying an additional 35 shares during the last quarter. Gilbert & Cook Inc. boosted its position in shares of Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock worth $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC grew its holdings in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after buying an additional 35 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its position in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after acquiring an additional 35 shares during the period. 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.