Norfolk Southern (NYSE:NSC) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other research firms also recently commented on NSC. Loop Capital downgraded shares of Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a report on Monday, November 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $156.00 price objective on shares of Norfolk Southern in a report on Monday, January 8th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $137.00 price objective on shares of Norfolk Southern in a report on Tuesday, January 9th. Scotiabank raised shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Friday, January 12th. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Monday, January 15th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $140.15.
Shares of Norfolk Southern (NSC) traded down $5.74 during mid-day trading on Wednesday, hitting $136.64. 2,699,523 shares of the stock traded hands, compared to its average volume of 1,680,000. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 0.84. Norfolk Southern has a 12 month low of $109.27 and a 12 month high of $157.15. The stock has a market cap of $38,810.00, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.41 and a beta of 1.32.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 467 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $150.17, for a total value of $70,129.39. Following the completion of the transaction, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $750,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 1,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $142.90, for a total transaction of $142,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,166 shares of company stock valued at $1,958,040. Insiders own 0.36% of the company’s stock.
Large investors have recently made changes to their positions in the business. Sawyer & Company Inc bought a new position in Norfolk Southern in the 4th quarter valued at $104,000. Arcadia Investment Management Corp MI boosted its holdings in Norfolk Southern by 165.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock valued at $121,000 after purchasing an additional 520 shares during the period. Certified Advisory Corp bought a new position in Norfolk Southern in the 4th quarter valued at $137,000. Welch Investments LLC bought a new position in Norfolk Southern in the 4th quarter valued at $156,000. Finally, Woodard & Co. Asset Management Group Inc. ADV bought a new position in Norfolk Southern in the 4th quarter valued at $163,000. 72.50% of the stock is owned by hedge funds and other institutional investors.
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About Norfolk Southern
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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