Nucor (NYSE:NUE) Stock Rating Upgraded by UBS Group

Nucor (NYSE:NUE) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $160.00 price target on the basic materials company’s stock, up from their prior price target of $156.00. UBS Group’s target price would suggest a potential upside of 25.48% from the company’s current price.

Several other research firms have also recently commented on NUE. Morgan Stanley lifted their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Three 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’s stock. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $164.78.

Nucor Trading Up 0.1 %

Shares of Nucor stock opened at $127.51 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $130.86 and a 200 day simple moving average of $137.56. Nucor has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a market capitalization of $29.40 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $3.16 earnings per share. On average, sell-side analysts anticipate that Nucor will post 7.64 earnings per share for the current fiscal year.

Institutional Trading of Nucor

A number of institutional investors have recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Nucor during the 4th quarter valued at $25,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter valued at $29,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor during the 4th quarter worth about $33,000. Finally, Versant Capital Management Inc lifted 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 worth $35,000 after purchasing an additional 114 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nucor

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.