Nucor (NYSE:NUE) Price target raised to $145.00 by Citigroup analysts

Nucor (NYSE:NUE – Get a Rating) had its target price raised by Citigroup investment analysts to $145.00 in a research note released on Tuesday, Stock Target Advisor reports. Citigroup’s price target would point to a potential upside of 6.54% from the stock’s previous close.

NUE has been the subject of several other reports. Morgan Stanley cut its target price on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a Monday, July 25 report. StockNews.com upgraded Nucor from a “buy” to a “hold” rating in a Tuesday, August 16 report. JPMorgan Chase & Co. lowered its price target on Nucor shares from $146.00 to $125.00 and set a “neutral” rating for the company in a Tuesday, June 14 research report. UBS Group set a target price of $120.00 on Nucor shares in a Monday, June 20 research report. Finally, the Goldman Sachs group lowered its price target on Nucor shares from $148.00 to $130.00 and set a “neutral” rating for the company in a Tuesday, May 31 report. One analyst rated the stock with a sell rating, six gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $136.00.

Nucor Price Performance

pixel

A d ProTrading Research

Is it a flare?

Who hasn’t dreamed of buying a stock for $2… hoping it would skyrocket to $200 for a quick 100 to 1 gain? That’s what penny stocks can do sometimes. Check out the 4 penny stocks on our watchlist here.

Shares of Nucor traded down $5.62 at midday Tuesday, hitting $136.10. 1,703,863 shares of the company were traded, against an average volume of 2,882,662. The company has a 50-day simple moving average of $129.58 and a 200-day simple moving average of $133.72. The company has a debt ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39. The company has a market capitalization of $35.63 billion, a P/E ratio of 4.18 and a beta of 1.39. Nucor has a 52-week minimum of $88.50 and a 52-week maximum of $187.90.

Nucor (NYSE:NUE – Get Rating) last released its results on Thursday, July 21. The basic materials company reported earnings per share of $9.67 for the quarter, beating the consensus estimate of $8.91 by $0.76. The company posted revenue of $11.79 billion for the quarter, versus analyst estimates of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company’s quarterly revenue increased by 34.2% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $5.04. Research analysts expect Nucor to post earnings per share of 31.01 for the current year.

Insider activity

In related news, Executive Vice President Kenneth Rex Query sold 5,000 shares of Nucor in a trade on Wednesday, August 10. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now directly owns 76,100 shares of the company, valued at $10,778,804. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In related news, Executive Vice President Kenneth Rex Query sold 5,000 shares of Nucor in a trade that took place on Wednesday, August 10. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the transaction, the executive vice president now owns 76,100 shares of the company, valued at approximately $10,778,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Leon J. Topalian sold 48,768 shares of the company in a trade that took place on Friday, June 17. The shares were sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the sale, the CEO now directly owns 135,809 shares of the company, valued at approximately $15,293,451.49. The disclosure of this sale can be found here. Insiders sold a total of 57,175 shares of the company worth $6,616,198 in the past 90 days. 0.46% of the shares are held by insiders of the company.

Hedge funds weigh on Nucor

Several institutional investors have recently changed their holdings in NUE. Westside Investment Management Inc. bought a new position in Nucor in the fourth quarter worth approximately $25,000. Tradition Wealth Management LLC increased its position in Nucor by 133.3% in the second quarter. Tradition Wealth Management LLC now owns 245 shares of the basic materials company valued at $26,000 after acquiring 140 additional shares in the last quarter. CFS Investment Advisory Services LLC increased its stake in Nucor by 14,509.4% in Q1. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company worth $27,000 after purchasing an additional 4,033,911 shares during the period. Riverview Trust Co bought a new position in Nucor during Q1 worth approximately $28,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new equity stake in Nucor in Q1 worth approximately $30,000. Institutional investors hold 79.07% of the company’s shares.

Nucor Company Profile

(Get an assessment)

Nucor Corporation manufactures and sells steel and steel products. The Company’s Steel Mills segment produces hot-rolled, cold-rolled and galvanized steel sheets; sheet steel products; wide flange beams, beam blanks and sheet pile and sheet pile products; and steel bar products, such as blooms, billets, concrete rebar and merchant bars, and specialty bar grade products.

Featured articles

Stock Target Advisor Logo

Analyst Recommendations for Nucor (NYSE: NUE)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Nucor, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Nucor wasn’t on the list.

Although Nucor currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Richard L. Militello