Wells Fargo & Company downgraded shares of Norfolk Souther Corporation (NYSE:NSC) from an outperform rating to a market perform rating in a research report released on Monday morning.

Other equities analysts have also recently issued reports about the stock. Wolfe Research raised shares of Norfolk Souther Corporation from a market perform rating to a buy rating and set a $126.00 price target on the stock in a research note on Monday, August 7th. ValuEngine lowered shares of Norfolk Souther Corporation from a buy rating to a hold rating in a research report on Monday, October 2nd. BidaskClub lowered shares of Norfolk Souther Corporation from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Cowen and Company reiterated an outperform rating and issued a $130.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 1st. Finally, UBS AG reiterated a buy rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $118.38.

Norfolk Souther Corporation (NSC) opened at 129.80 on Monday. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $134.52. The stock has a market capitalization of $37.41 billion, a P/E ratio of 21.09 and a beta of 1.38. The firm’s 50-day moving average is $127.81 and its 200 day moving average is $120.30.

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. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect that Norfolk Souther Corporation will post $6.36 EPS for the current year.

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Norfolk Souther Corporation announced that its board has initiated a share buyback program on Tuesday, September 26th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the railroad operator to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

In related news, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 27,077 shares of company stock valued at $3,244,531. Corporate insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Krilogy Financial LLC increased its position in Norfolk Souther Corporation by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares in the last quarter. AlphaMark Advisors LLC increased its position in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. D Orazio & Associates Inc. increased its position 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 worth $100,000 after purchasing an additional 4 shares in the last quarter. Harfst & Associates Inc. increased its position in Norfolk Souther Corporation by 58.8% during the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after purchasing an additional 350 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Norfolk Souther Corporation by 29.2% during the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock worth $114,000 after purchasing an additional 220 shares in the last quarter. 70.45% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Norfolk Souther Corporation (NYSE:NSC)

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