Norfolk Southern (NSC) Receives a Rating Update from a Top Analyst

By Jason Carr

Cowen & Co. analyst Jason Seidl reiterated a Buy rating on Norfolk Southern (NYSE: NSC) today and set a price target of $194. The company’s shares opened today at $160.37.

According to TipRanks.com, Seidl is a top 100 analyst with an average return of 15.5% and a 70.2% success rate. Seidl covers the Services sector, focusing on stocks such as Covenant Transportation Group, Expeditors International, and Echo Global Logistics.

Norfolk Southern has an analyst consensus of Moderate Buy, with a price target consensus of $174.27, implying an 8.7% upside from current levels. In a report issued on October 12, Credit Suisse also upgraded the stock to Buy with a $188 price target.

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Based on Norfolk Southern’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.9 billion and net profit of $709 million. In comparison, last year the company earned revenue of $2.67 billion and had a net profit of $505 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Cynthia Earhart, the Exec. VP Finance and CFO of NSC sold 2,370 shares for a total of $414,940.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.