Nucor (NUE) PT Lowered to $68.00

Nucor (NYSE:NUE) had its price target lowered by equities research analysts at Morgan Stanley from $70.00 to $68.00 in a research report issued on Tuesday. The firm presently has a “hold” rating on the basic materials company’s stock. Morgan Stanley’s target price would suggest a potential upside of 13.56% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. BMO Capital Markets upped their price target on shares of Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Bank of America set a $75.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.90.

Shares of Nucor (NYSE NUE) traded down $0.50 during mid-day trading on Tuesday, hitting $59.88. 1,693,915 shares of the stock traded hands, compared to its average volume of 3,145,969. The stock has a market capitalization of $20,003.32, a P/E ratio of 14.46, a PEG ratio of 1.07 and a beta of 1.56. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. Nucor has a fifty-two week low of $51.67 and a fifty-two week high of $70.48.

Nucor (NYSE:NUE) last announced its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. research analysts forecast that Nucor will post 4.92 EPS for the current fiscal year.

In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new stake in shares of Nucor during the fourth quarter worth $100,000. Barrett Asset Management LLC acquired a new stake in shares of Nucor during the fourth quarter worth $101,000. Krilogy Financial LLC raised its holdings in shares of Nucor by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Nucor in the 4th quarter worth about $131,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Nucor by 791.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,373 shares during the period. 74.33% of the stock is currently owned by institutional investors.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Analyst Recommendations for Nucor (NYSE:NUE)

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