Price Action to Note: Will Norfolk Southern Corp. Run Out of Steam Soon?

Price Action to Note: Will Norfolk Southern Corp. Run Out of Steam Soon?

The stock of Norfolk Southern Corp. (NYSE:NSC) hit a new 52-week high and has $122.69 target or 24.00% above today’s $98.94 share price. The 8 months bullish chart indicates low risk for the $29.20 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $122.69 price target is reached, the company will be worth $7.01B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.23M shares traded hands or 34.34% up from the average. Norfolk Southern Corp. (NYSE:NSC) has risen 19.85% since April 7, 2016 and is uptrending. It has outperformed by 15.07% the S&P500.

Norfolk Southern Corp. (NYSE:NSC) Ratings Coverage

Out of 21 analysts covering Norfolk Southern Corp. (NYSE:NSC), 6 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 29% are positive. Norfolk Southern Corp. has been the topic of 40 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Citigroup maintained it with “Neutral” rating and $84 target price in Wednesday, April 6 report. The stock of Norfolk Southern Corp. (NYSE:NSC) earned “Buy” rating by Bank of America on Tuesday, October 11. Deutsche Bank maintained the shares of NSC in a report on Monday, October 12 with “Hold” rating. The rating was initiated by Deutsche Bank with “Buy” on Wednesday, November 2. The stock of Norfolk Southern Corp. (NYSE:NSC) has “Underweight” rating given on Friday, June 3 by Morgan Stanley. On Wednesday, November 25 the stock rating was maintained by Topeka Capital Markets with “Hold”. The rating was initiated by CLSA on Thursday, May 19 with “Outperform”. Barclays Capital downgraded the shares of NSC in a report on Monday, October 5 to “Underweight” rating. The company was initiated on Tuesday, August 11 by Topeka Capital Markets. The firm has “Hold” rating by Scotia Capital given on Tuesday, July 28.

According to Zacks Investment Research, “Norfolk Southern Corp., a Virginia-based holding company, owns two major freight railroads, Norfolk Southern Railway Company and Norfolk Western Railway Company, which operates in numerous states, the District of Columbia and the Province of Ontario. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 0.96 in 2016 Q2. Its up 0.16, from 0.8 in 2016Q1. The ratio improved, as 48 funds sold all Norfolk Southern Corp. shares owned while 317 reduced positions. 77 funds bought stakes while 272 increased positions. They now own 196.51 million shares or 2.16% less from 200.85 million shares in 2016Q1.
California Pub Employees Retirement last reported 0.11% of its portfolio in the stock. Sg Americas Secs Ltd Llc accumulated 0.01% or 11,455 shares. Blackrock Institutional Na holds 0.11% or 8.18 million shares in its portfolio. Moreover, Royal London Asset Mngmt Limited has 0.14% invested in Norfolk Southern Corp. (NYSE:NSC) for 102,123 shares. South State Corporation reported 2,421 shares or 0.03% of all its holdings. Loring Wolcott Coolidge Fiduciary Advsr Ltd Liability Partnership Ma holds 0.05% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 26,135 shares. Moreover, Lvw Advsr Ltd Company has 0.87% invested in Norfolk Southern Corp. (NYSE:NSC) for 27,137 shares. Heritage Management, a Maryland-based fund reported 87,283 shares. Jfs Wealth Advsrs Ltd Liability Co has invested 0.03% of its portfolio in Norfolk Southern Corp. (NYSE:NSC). The Colorado-based Cambiar Ltd Liability Corporation has invested 0.89% in Norfolk Southern Corp. (NYSE:NSC). Aull Monroe Inv holds 0.24% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 4,868 shares. Wagner Bowman Mngmt has invested 0.35% of its portfolio in Norfolk Southern Corp. (NYSE:NSC). Moreover, Department Mb Natl Bank N A has 0.02% invested in Norfolk Southern Corp. (NYSE:NSC) for 1,815 shares. Barbara Oil Co holds 24,000 shares or 1.64% of its portfolio. Marketfield Asset Limited Liability Company holds 203,282 shares or 0.76% of its portfolio.

Insider Transactions: Since August 3, 2016, the stock had 0 buys, and 8 selling transactions for $1.92 million net activity. $90,818 worth of Norfolk Southern Corp. (NYSE:NSC) was sold by Hurlbut Thomas E. $190,364 worth of Norfolk Southern Corp. (NYSE:NSC) was sold by STEWART MARTA R. HIXON JAMES A also sold $941,508 worth of Norfolk Southern Corp. (NYSE:NSC) on Monday, August 29.

More notable recent Norfolk Southern Corp. (NYSE:NSC) news were published by: Fool.com which released: “Better Buy: CSX Corp. or Norfolk Southern Corp.?” on January 23, 2016, also Wsj.com with their article: “Norfolk Southern Steps Up Fight Against Canadian Pacific Merger” published on March 29, 2016, Wsj.com published: “Canadian Pacific Drops Efforts to Merge With Norfolk Southern” on April 11, 2016. More interesting news about Norfolk Southern Corp. (NYSE:NSC) were released by: Wsj.com and their article: “Norfolk Southern Reports Surprise Jump in Profit” published on April 21, 2016 as well as Wsj.com‘s news article titled: “Norfolk Southern Earnings Narrowly Top Views Amid Cost Cuts” with publication date: July 27, 2016.

NSC Company Profile

Norfolk Southern Corporation, incorporated on August 24, 2009, is a holding firm engaged in the rail transportation business. The Firm operates approximately 20,000 miles of road primarily in the East and Midwest. The Firm is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest, and through interchange with rail carriers, to and from the rest of the United States. The Firm also transports overseas freight through various Atlantic and Gulf Coast ports. The Firm provides logistics services and offers the intermodal network in the eastern half of the United States. The Company’s system reaches various manufacturing plants, electric generating facilities, mines, distribution centers and other businesses located in its service area.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment