Nucor (NYSE:NUE) Rating Increased to Buy at UBS Group

Nucor (NYSE:NUE - Get Free Report) was upgraded by research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $160.00 price objective on the basic materials company's stock, up from their prior price objective of $156.00. UBS Group's price target would indicate a potential upside of 31.25% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a "buy" rating and a $190.00 price objective for the company. Jefferies Financial Group lifted their target price on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $164.44.

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Nucor Stock Performance

Shares of NYSE NUE traded down $5.57 during trading on Monday, hitting $121.90. The company had a trading volume of 2,736,479 shares, compared to its average volume of 1,972,398. Nucor has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a market capitalization of $28.10 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The stock has a 50 day simple moving average of $130.98 and a 200 day simple moving average of $137.29.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 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 previous year, the business posted $3.16 EPS. As a group, analysts anticipate that Nucor will post 7.64 earnings per share for the current year.

Hedge Funds Weigh In On Nucor

A number of institutional investors and hedge funds have recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Nucor in the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new stake in shares of Nucor in the 4th quarter valued at approximately $29,000. Putney Financial Group LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor during the 4th quarter valued at approximately $33,000. Finally, Versant Capital Management Inc raised its holdings in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after buying an additional 114 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Company Profile

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.