Nucor (NYSE:NUE) has been assigned a $61.00 price target by investment analysts at Credit Suisse Group in a research report issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 7.81% from the stock’s previous close.
Several other research firms have also commented on NUE. UBS Group set a $70.00 target price on shares of Lumentum and gave the company a “buy” rating in a research note on Wednesday, May 8th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Citigroup set a $74.00 price target on shares of Realty Income and gave the company a “hold” rating in a research report on Tuesday, June 11th. Bank of America set a $77.00 price target on shares of Zscaler and gave the company a “neutral” rating in a research report on Friday, May 31st. Finally, Deutsche Bank set a $18.00 price target on shares of Commercial Metals and gave the company a “buy” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $62.90.
NUE stock traded up $0.31 on Friday, hitting $56.58. 1,908,474 shares of the company’s stock traded hands, compared to its average volume of 2,472,986. Nucor has a 1-year low of $47.13 and a 1-year high of $68.84. The firm has a market cap of $17.23 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.59. The stock’s fifty day moving average is $53.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56.
Nucor (NYSE:NUE) last released its earnings results on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the business earned $2.07 earnings per share. The business’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts expect that Nucor will post 4.88 EPS for the current year.
In other Nucor news, EVP Leon J. Topalian sold 1,253 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $56.99, for a total value of $71,408.47. Following the completion of the sale, the executive vice president now owns 46,593 shares in the company, valued at approximately $2,655,335.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John J. Ferriola sold 65,061 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the completion of the sale, the chairman now owns 403,735 shares of the company’s stock, valued at approximately $22,689,907. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,314 shares of company stock valued at $4,310,637. Insiders own 0.96% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC purchased a new stake in Nucor in the 1st quarter worth approximately $144,000. Oakbrook Investments LLC lifted its position in Nucor by 77.1% in the 1st quarter. Oakbrook Investments LLC now owns 28,620 shares of the basic materials company’s stock worth $1,670,000 after buying an additional 12,460 shares in the last quarter. RNC Capital Management LLC lifted its position in Nucor by 24.0% in the 1st quarter. RNC Capital Management LLC now owns 73,214 shares of the basic materials company’s stock worth $4,272,000 after buying an additional 14,190 shares in the last quarter. Sawtooth Solutions LLC lifted its position in Nucor by 37.5% in the 1st quarter. Sawtooth Solutions LLC now owns 7,717 shares of the basic materials company’s stock worth $450,000 after buying an additional 2,104 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in Nucor by 34.1% in the 1st quarter. Toronto Dominion Bank now owns 234,486 shares of the basic materials company’s stock worth $13,678,000 after buying an additional 59,666 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The 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; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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