Is Buying Norfolk Southern Corp. (NSC) Here a Winning Strategy? The Stock Formed Double Top Pattern

June 19, 2017 - By Stephen Andrade

Investors sentiment decreased to 0.81 in 2016 Q4. Its down 0.09, from 0.9 in 2016Q3. It turned negative, as 54 investors sold Norfolk Southern Corp. shares while 354 reduced holdings. 87 funds opened positions while 242 raised stakes. 197.51 million shares or 1.15% more from 195.27 million shares in 2016Q3 were reported.
Archford Cap Strategies Ltd Company holds 0.02% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 536 shares. State Street Corp reported 12.68M shares. Westfield Cap Mngmt Ltd Partnership holds 254,893 shares. 445 were reported by Perkins Coie Trust. Shelton Capital has invested 0.18% in Norfolk Southern Corp. (NYSE:NSC). Farmers Comml Bank stated it has 29,737 shares or 1.85% of all its holdings. Cetera Advisor Limited Liability Co reported 0.04% stake. The Connecticut-based Aqr Cap Mgmt Lc has invested 0.18% in Norfolk Southern Corp. (NYSE:NSC). Howe & Rusling reported 0% of its portfolio in Norfolk Southern Corp. (NYSE:NSC). Linscomb And Williams has invested 0.33% in Norfolk Southern Corp. (NYSE:NSC). 60,300 are owned by Macquarie Ltd. Kidder Stephen W invested in 7,400 shares. Winslow Evans Crocker holds 0% of its portfolio in Norfolk Southern Corp. (NYSE:NSC) for 2,076 shares. Blair William And Il accumulated 73,758 shares. Park Natl Oh has 0.1% invested in Norfolk Southern Corp. (NYSE:NSC).

Since January 26, 2017, it had 0 insider buys, and 15 insider sales for $7.00 million activity. LOCKHART MICHAEL D also sold $117 worth of Norfolk Southern Corp. (NYSE:NSC) shares. $117 worth of Norfolk Southern Corp. (NYSE:NSC) was sold by Galanko William Andrew. 607 shares were sold by Hurlbut Thomas E, worth $71,784 on Wednesday, February 1. 34,417 shares were sold by Squires James A, worth $4.12 million on Thursday, January 26. BUSH WESLEY G also sold $119 worth of Norfolk Southern Corp. (NYSE:NSC) shares.

The chart of Norfolk Southern Corp. (NSC) shows a double top with $123.24 target or 3.00 % above today’s $119.65 share price. The 8 months chart pattern indicates low risk for the $34.92B company. It was reported on Jun, 19 by Finviz.com. If the $123.24 price target is reached, the company will be worth $1.05B more. Double tops are rare but powerful chart patterns.

About 94,170 shares traded. Norfolk Southern Corp. (NYSE:NSC) has risen 34.32% since June 19, 2016 and is uptrending. It has outperformed by 17.62% the S&P500.

Analysts expect Norfolk Southern Corp. (NYSE:NSC) to report $1.61 EPS on July, 26.They anticipate $0.25 EPS change or 18.38 % from last quarter’s $1.36 EPS. NSC’s profit would be $469.90 million giving it 18.58 P/E if the $1.61 EPS is correct. After having $1.48 EPS previously, Norfolk Southern Corp.’s analysts see 8.78 % EPS growth.

Norfolk Southern Corp. (NYSE:NSC) Ratings Coverage

Among 24 analysts covering Norfolk Southern Corp. (NYSE:NSC), 5 have Buy rating, 5 Sell and 14 Hold. Therefore 21% are positive. Norfolk Southern Corp. had 49 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was downgraded by Seaport Global to “Neutral” on Monday, January 9. The firm has “Market Perform” rating by BMO Capital Markets given on Tuesday, November 24. The stock has “Hold” rating by Topeka Capital Markets on Wednesday, November 25. The stock of Norfolk Southern Corp. (NYSE:NSC) has “Neutral” rating given on Monday, April 25 by JP Morgan. The firm has “Underperform” rating given on Wednesday, October 12 by Avondale. The stock has “Neutral” rating by Citigroup on Friday, October 2. As per Thursday, June 1, the company rating was maintained by BMO Capital Markets. Wolfe Research downgraded the shares of NSC in report on Wednesday, March 15 to “Peer Perform” rating. The firm has “Sector Perform” rating given on Tuesday, July 28 by RBC Capital Markets. The rating was initiated by Buckingham Research with “Neutral” on Wednesday, January 18.

More important recent Norfolk Southern Corp. (NYSE:NSC) news were published by: Seekingalpha.com which released: “Norfolk Southern (NSC) Q1 2017 Results – Earnings Call Transcript” on April 26, 2017, also Law360.com published article titled: “CSX, Norfolk Southern Slam ‘Exorbitant’ Rail Rental Deal Suit”, Investorplace.com published: “Why You Should Add Norfolk Southern Corp. Stock (NSC) to Your Portfolio” on June 07, 2017. More interesting news about Norfolk Southern Corp. (NYSE:NSC) was released by: Prnewswire.com and their article: “How These Railroads Stocks are Faring? — CSX Corp., Kansas City Southern …” with publication date: May 26, 2017.

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