Norfolk Southern Corp. Has More Gas To Decrease After Today’s Bearish Options Activity

 Norfolk Southern Corp. Has More Gas To Decrease After Today's Bearish Options Activity

In today’s session Norfolk Southern Corp. (NSC) recorded an unusually high (476) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious NSC decrease. With 476 contracts traded and 16784 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: NSC170120P00090000 closed last at: $1.1 or 15.4% down. About 462,231 shares traded hands. Norfolk Southern Corp. (NYSE:NSC) has risen 28.19% since April 12, 2016 and is uptrending. It has outperformed by 23.21% 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. $110 is the highest target while $74 is the lowest. The $89.47 average target is -13.41% below today’s ($103.33) stock price. Norfolk Southern Corp. has been the topic of 40 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, April 11 report. Deutsche Bank maintained it with “Hold” rating and $84 target price in Monday, October 12 report. Credit Suisse maintained Norfolk Southern Corp. (NYSE:NSC) rating on Friday, February 19. Credit Suisse has “Neutral” rating and $77 price target. The firm has “Underperform” rating by Macquarie Research given on Monday, November 2. The stock has “Sector Outperform” rating given by Scotia Capital on Tuesday, March 15. The firm earned “Hold” rating on Thursday, August 4 by Loop Capital. The company was initiated on Tuesday, August 11 by Topeka Capital Markets. The firm earned “Hold” rating on Wednesday, November 25 by Topeka Capital Markets. The rating was initiated by Deutsche Bank with “Buy” on Wednesday, November 2. Atlantic Securities initiated the shares of NSC in a report on Thursday, August 11 with “Neutral” rating.

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 Q2 2016. Its up 0.16, from 0.8 in 2016Q1. The ratio increased, 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.
Moreover, State Board Of Administration Of Florida Retirement Systems has 0.12% invested in Norfolk Southern Corp. (NYSE:NSC) for 441,956 shares. Fairfield Bush & last reported 5,766 shares in the company. Natl Pension Service last reported 0.15% of its portfolio in the stock. Cullinan Assoc Inc accumulated 6,500 shares or 0.04% of the stock. Caisse De Depot Et Placement Du Quebec holds 0.08% or 351,577 shares in its portfolio. Old Republic holds 0.72% or 189,200 shares in its portfolio. Tru Department Mb Retail Bank N A accumulated 0.02% or 1,815 shares. Crestwood Ltd last reported 3,000 shares in the company. Naples Advsrs Limited Liability Co reported 11,984 shares or 0.42% of all its holdings. Capwealth Limited Liability Company holds 0.02% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 753 shares. Deprince Race Zollo Inc holds 0.88% or 508,700 shares in its portfolio. Retirement Of Alabama reported 150,771 shares or 0.08% of all its holdings. Conning holds 0.09% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 26,982 shares. Deutsche Bancshares Ag has 0.15% invested in the company for 2.56M shares. Barnett holds 0.49% or 10,428 shares in its portfolio.

Insider Transactions: Since August 3, 2016, the stock had 0 insider purchases, and 10 insider sales for $6.18 million net activity. On Tuesday, November 8 Earhart Cynthia C sold $872,971 worth of the stock or 8,947 shares. HIXON JAMES A sold $941,508 worth of Norfolk Southern Corp. (NYSE:NSC) on Monday, August 29. Hurlbut Thomas E sold $90,818 worth of stock. On Monday, November 7 the insider STEWART MARTA R sold $190,364.

Norfolk Southern Corporation is a holding firm engaged in the rail transportation business. The company has a market cap of $30.29 billion. The Firm operates approximately 20,000 miles of road primarily in the East and Midwest. It has a 19.15 P/E ratio. The Firm is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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.

More news for Norfolk Southern Corp. (NYSE:NSC) were recently published by: Wsj.com, which released: “Norfolk Southern Earnings Narrowly Top Views Amid Cost Cuts” on July 27, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: Norfolk Southern, Mueller Water Products and Standex …” and published on August 02, 2016 is yet another important article.

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