Nucor (NYSE:NUE) PT Raised to $156.00 at Credit Suisse Group

Nucor (NYSE:NUE – Get Rating) had its price objective raised by investment analysts at Credit Suisse Group from $140.00 to $156.00 in a report issued on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 8.24% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets lifted their price objective on Nucor from $155.00 to $165.00 and gave the company a “market perform” rating in a research note on Friday, January 27th. StockNews.com initiated coverage on Nucor in a research note on Thursday. They issued a “hold” rating on the stock. Morgan Stanley lifted their price objective on Nucor from $113.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. The Goldman Sachs Group lifted their price objective on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, March 10th. Finally, Bank of America started coverage on Nucor in a research note on Wednesday, January 4th. They issued a “buy” rating and a $172.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $153.44.

Nucor Stock Down 0.9 %

NUE opened at $144.12 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.39 and a quick ratio of 2.13. The stock has a market capitalization of $36.31 billion, a price-to-earnings ratio of 5.02 and a beta of 1.59. The business has a 50-day moving average of $162.85 and a two-hundred day moving average of $143.13. Nucor has a 12 month low of $100.13 and a 12 month high of $187.90.

Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The basic materials company reported $4.89 EPS for the quarter, beating the consensus estimate of $4.18 by $0.71. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The firm’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.97 EPS. On average, research analysts expect that Nucor will post 14.35 earnings per share for the current year.

Insider Activity

In other news, EVP Kenneth Rex Query sold 1,962 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $177.99, for a total transaction of $349,216.38. Following the completion of the sale, the executive vice president now directly owns 74,138 shares of the company’s stock, valued at $13,195,822.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Kenneth Rex Query sold 1,962 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $177.99, for a total transaction of $349,216.38. Following the completion of the sale, the executive vice president now directly owns 74,138 shares of the company’s stock, valued at $13,195,822.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allen C. Behr sold 2,613 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $168.00, for a total value of $438,984.00. Following the transaction, the executive vice president now directly owns 57,121 shares in the company, valued at $9,596,328. The disclosure for this sale can be found here. Insiders sold a total of 12,575 shares of company stock worth $2,034,130 over the last 90 days. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NUE. Delta Asset Management LLC TN acquired a new position in shares of Nucor during the 4th quarter valued at about $26,000. Freedom Wealth Alliance LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $26,000. Guardian Wealth Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter valued at about $31,000. MinichMacGregor Wealth Management LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $32,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Nucor during the 1st quarter valued at about $32,000. 78.33% of the stock is owned by institutional investors and hedge funds.

Nucor Company Profile

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.