Nucor (NYSE:NUE) PT Raised to $148.00 at The Goldman Sachs Group

Nucor (NYSE:NUE – Get Rating) had its price target hoisted by equities researchers at The Goldman Sachs Group from $134.00 to $148.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 14.41% from the company’s previous close.

NUE has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Nucor from $152.00 to $168.00 in a research report on Friday. Morgan Stanley lifted their price target on shares of Nucor from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, January 31st. StockNews.com began coverage on shares of Nucor in a report on Thursday, March 31st. They issued a “buy” rating for the company. Wolfe Research downgraded shares of Nucor from a “peer perform” rating to an “underperform” rating and set a $102.00 target price for the company. in a report on Tuesday, January 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nucor from $113.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.09.

NUE traded down $2.68 during trading on Friday, reaching $172.91. The company’s stock had a trading volume of 32,268 shares, compared to its average volume of 3,489,782. The company has a quick ratio of 1.32, a current ratio of 2.48 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $141.87 and a two-hundred day simple moving average of $120.81. Nucor has a 1 year low of $75.60 and a 1 year high of $187.90. The company has a market cap of $46.47 billion, a price-to-earnings ratio of 7.38 and a beta of 1.33.

Nucor (NYSE:NUE – Get Rating) last released its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.39 by $0.28. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.72 billion. Nucor had a net margin of 18.71% and a return on equity of 51.41%. The business’s revenue was up 49.5% on a year-over-year basis. During the same period last year, the company posted $3.10 EPS. As a group, equities analysts forecast that Nucor will post 20.32 EPS for the current fiscal year.

In related news, EVP Allen C. Behr sold 3,014 shares of the business’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $143.40, for a total value of $432,207.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,600 shares of the business’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $154.58, for a total transaction of $556,488.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,639 shares of company stock valued at $4,096,302. Insiders own 0.46% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC acquired a new position in Nucor during the third quarter worth about $25,000. Westside Investment Management Inc. acquired a new position in Nucor during the fourth quarter worth about $25,000. Consolidated Planning Corp acquired a new position in Nucor during the third quarter worth about $27,000. Rational Advisors LLC acquired a new position in Nucor during the fourth quarter worth about $28,000. Finally, Riverview Trust Co acquired a new stake in shares of Nucor in the first quarter valued at approximately $28,000. 73.01% of the stock is owned by hedge funds and other institutional investors.

About Nucor (Get Rating)

Nucor Corporation manufactures and sells steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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