Nucor (NYSE:NUE) Price Target Cut to $128.00 by Analysts at BMO Capital Markets

Nucor (NYSE:NUEGet Rating) had its price target decreased by stock analysts at BMO Capital Markets from $168.00 to $128.00 in a report released on Tuesday, The Fly reports. BMO Capital Markets’ target price would suggest a potential upside of 3.18% from the company’s previous close.

Several other research analysts have also recently weighed in on NUE. StockNews.com initiated coverage on shares of Nucor in a research report on Thursday, March 31st. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their price objective on Nucor from $113.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, March 24th. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a report on Wednesday, April 20th. The Goldman Sachs Group increased their price objective on shares of Nucor from $134.00 to $148.00 and gave the stock a “neutral” rating in a research note on Friday, April 22nd. Finally, Credit Suisse Group boosted their target price on shares of Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.00.

Shares of Nucor stock traded up $4.31 during trading on Tuesday, hitting $124.06. 46,563 shares of the company’s stock traded hands, compared to its average volume of 3,754,377. The company has a market cap of $33.01 billion, a PE ratio of 4.41 and a beta of 1.21. The firm’s fifty day moving average price is $147.63 and its 200 day moving average price is $125.90. Nucor has a twelve month low of $87.71 and a twelve month high of $187.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.88 and a quick ratio of 1.66.

Nucor (NYSE:NUEGet Rating) last released its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $7.39 by $0.28. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the previous year, the business earned $3.10 earnings per share. The company’s quarterly revenue was up 49.5% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor will post 27.04 earnings per share for the current year.

In other Nucor news, EVP Daniel R. Needham sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $160.00, for a total value of $640,000.00. Following the completion of the sale, the executive vice president now directly owns 46,994 shares in the company, valued at $7,519,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 3,014 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $143.40, for a total value of $432,207.60. The disclosure for this sale can be found here. Insiders have sold 31,639 shares of company stock valued at $4,736,302 over the last quarter. Company insiders own 0.46% of the company’s stock.

Institutional investors have recently modified their holdings of the company. MFA Wealth Advisors LLC bought a new stake in Nucor in the 3rd quarter worth about $25,000. Westside Investment Management Inc. bought a new position in Nucor in the 4th quarter valued at $25,000. Consolidated Planning Corp purchased a new stake in shares of Nucor during the 3rd quarter valued at $27,000. Rational Advisors LLC bought a new stake in shares of Nucor during the 4th quarter worth $28,000. Finally, Riverview Trust Co bought a new position in Nucor during the first quarter valued at about $28,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

Nucor Company Profile (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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