CF Industries (NYSE:CF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “CF Industries has outperformed the industry it belongs to over the past six months. CF Industries is well positioned to gain from its efforts to boost production capacity. It is also likely to benefit from higher nitrogen demand driven by healthy corn plantations. The company is also enjoying the benefit of ample natural gas supply. However, CF Industries remains exposed to pricing pressure and has a debt-laden balance sheet. The company is also exposed to challenging agriculture market fundamentals.”
A number of other research firms have also recently commented on CF. BMO Capital Markets increased their target price on shares of CF Industries from $38.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 3rd. Piper Jaffray Companies set a $28.00 target price on shares of CF Industries and gave the company a “hold” rating in a research report on Friday, October 6th. Cowen increased their target price on shares of CF Industries from $27.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. Atlantic Securities cut shares of CF Industries from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their target price on shares of CF Industries from $23.00 to $27.00 and gave the company an “underperform” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. CF Industries has an average rating of “Hold” and a consensus target price of $34.95.
CF Industries (NYSE:CF) last released its quarterly earnings data on Wednesday, November 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.04). CF Industries had a negative net margin of 10.95% and a negative return on equity of 2.29%. The business had revenue of $870.00 million for the quarter, compared to the consensus estimate of $733.63 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. CF Industries’s revenue for the quarter was up 27.9% on a year-over-year basis. equities analysts forecast that CF Industries will post -0.35 EPS for the current fiscal year.
In related news, VP Bert A. Frost sold 7,500 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $36.50, for a total transaction of $273,750.00. Following the sale, the vice president now owns 67,232 shares in the company, valued at $2,453,968. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen A. Furbacher sold 3,500 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $36.00, for a total transaction of $126,000.00. Following the sale, the director now owns 50,854 shares in the company, valued at approximately $1,830,744. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CF. Capital World Investors grew its position in shares of CF Industries by 21.4% in the second quarter. Capital World Investors now owns 15,203,728 shares of the basic materials company’s stock valued at $425,096,000 after purchasing an additional 2,675,809 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of CF Industries in the second quarter valued at about $35,108,000. Thrivent Financial For Lutherans grew its position in shares of CF Industries by 12,161.3% in the second quarter. Thrivent Financial For Lutherans now owns 1,050,790 shares of the basic materials company’s stock valued at $29,380,000 after purchasing an additional 1,042,220 shares during the period. Manning & Napier Advisors LLC grew its position in shares of CF Industries by 190.0% in the third quarter. Manning & Napier Advisors LLC now owns 1,116,525 shares of the basic materials company’s stock valued at $39,256,000 after purchasing an additional 731,525 shares during the period. Finally, Anchor Bolt Capital LP grew its position in shares of CF Industries by 679.0% in the third quarter. Anchor Bolt Capital LP now owns 711,223 shares of the basic materials company’s stock valued at $25,007,000 after purchasing an additional 619,928 shares during the period.
CF Industries Company Profile
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizer, and other nitrogen products. The Company’s nitrogen fertilizer products are ammonia, granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN). Its other nitrogen products include diesel exhaust fluid (DEF), urea liquor, nitric acid and aqua ammonia, which are sold primarily to the Company’s industrial customers, and compound fertilizer products (nitrogen, phosphorus and potassium or NPKs).
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