CF Industries (NYSE:CF) Rating Increased to Buy at Citigroup

CF Industries (NYSE:CF – Get Rating) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $117.00 price target on the basic materials company’s stock. Citigroup’s price objective suggests a potential upside of 18.12% from the stock’s previous close.

CF has been the topic of several other research reports. Royal Bank of Canada increased their price objective on CF Industries from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 14th. Mizuho increased their price objective on CF Industries from $81.00 to $120.00 in a research note on Friday, April 29th. UBS Group increased their price objective on CF Industries from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler increased their price objective on CF Industries from $120.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Finally, Credit Suisse Group increased their price objective on CF Industries from $73.00 to $78.00 and gave the stock an “underperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.78.

CF Industries Trading Up 2.2 %

Shares of CF opened at $99.05 on Wednesday. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.41 and a quick ratio of 1.50. CF Industries has a 1-year low of $43.19 and a 1-year high of $113.49. The company has a 50-day moving average of $89.38 and a 200 day moving average of $90.37.

CF Industries (NYSE:CF – Get Rating) last issued its earnings results on Monday, August 1st. The basic materials company reported $6.19 EPS for the quarter, missing analysts’ consensus estimates of $6.23 by ($0.04). The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.50 billion. CF Industries had a return on equity of 49.10% and a net margin of 25.28%. The business’s revenue was up 113.4% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. On average, research analysts expect that CF Industries will post 18.42 EPS for the current year.

Insider Activity

In related news, VP Richard A. Hoker sold 6,684 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $94.90, for a total value of $634,311.60. Following the completion of the transaction, the vice president now owns 45,243 shares in the company, valued at approximately $4,293,560.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On CF Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in CF Industries by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 25,747,358 shares of the basic materials company’s stock worth $2,653,523,000 after acquiring an additional 94,482 shares during the last quarter. State Street Corp raised its stake in shares of CF Industries by 0.5% during the 4th quarter. State Street Corp now owns 9,390,450 shares of the basic materials company’s stock valued at $664,656,000 after buying an additional 49,793 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CF Industries by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 5,040,352 shares of the basic materials company’s stock valued at $356,069,000 after buying an additional 387,547 shares during the last quarter. Northern Trust Corp raised its stake in shares of CF Industries by 2.1% during the 4th quarter. Northern Trust Corp now owns 3,707,811 shares of the basic materials company’s stock valued at $262,439,000 after buying an additional 77,479 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of CF Industries during the 4th quarter valued at about $189,152,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

CF Industries Company Profile

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CF Industries Holdings, Inc manufactures and sells hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities worldwide. Its principal products include anhydrous ammonia, granular urea, urea ammonium nitrate, and ammonium nitrate products. The company also offers diesel exhaust fluid, urea liquor, nitric acid, and aqua ammonia products; and compound fertilizer products with nitrogen, phosphorus, and potassium.