Jefferies Financial Group Boosts Nucor (NYSE:NUE) Price Target to $135.00

Nucor (NYSE:NUE) had its price target upped by investment analysts at Jefferies Financial Group from $125.00 to $135.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Jefferies Financial Group’s target price points to a potential upside of 4.90% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Citigroup lowered their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. UBS Group reiterated a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Morgan Stanley decreased their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Nucor Price Performance

Shares of NYSE:NUE opened at $128.69 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 12.43 and a beta of 1.60. The business has a 50-day simple moving average of $129.36 and a two-hundred day simple moving average of $142.72. Nucor has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same quarter in the previous year, the business earned $3.16 earnings per share. On average, analysts expect that Nucor will post 8.18 earnings per share for the current year.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,680 shares of company stock worth $3,452,524 over the last quarter. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nucor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter valued at approximately $26,000. Coastline Trust Co bought a new position in Nucor during the third quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the third quarter valued at $30,000. Salomon & Ludwin LLC lifted its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Nucor during the 4th quarter worth about $29,000. 76.48% of the stock is currently 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.