Nucor (NYSE:NUE - Get Free Report) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $156.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 31.62% from the company's current price.
Other equities analysts have also recently issued reports about the company. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and lifted their target price for the company from $156.00 to $160.00 in a research report on Monday, March 24th. StockNews.com cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. Finally, The Goldman Sachs Group reduced their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.33.
View Our Latest Research Report on Nucor
Nucor Stock Down 3.7 %
Shares of Nucor stock traded down $4.13 during trading hours on Wednesday, reaching $106.37. The company's stock had a trading volume of 703,041 shares, compared to its average volume of 2,067,542. The company has a market capitalization of $24.52 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor has a one year low of $97.59 and a one year high of $193.61. The stock's fifty day simple moving average is $125.13 and its two-hundred day simple moving average is $133.02.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the firm earned $3.16 earnings per share. On average, research analysts forecast that Nucor will post 7.64 earnings per share for the current year.
Institutional Investors Weigh In On Nucor
Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new position in Nucor in the 4th quarter valued at approximately $29,000. Putney Financial Group LLC bought a new stake in Nucor in the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor during the fourth quarter valued at $33,000. Finally, MV Capital Management Inc. lifted its stake in shares of Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.
About Nucor
(
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Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
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