JPMorgan Chase & Co. Has Lowered Expectations for Nucor (NYSE:NUE) Stock Price

Nucor (NYSE:NUEGet Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $152.00 to $150.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 16.56% from the company’s previous close.

A number of other research analysts also recently commented on NUE. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.63.

View Our Latest Stock Report on NUE

Nucor Stock Performance

Shares of Nucor stock opened at $128.69 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The stock has a market capitalization of $30.22 billion, a price-to-earnings ratio of 12.43 and a beta of 1.60. The business has a 50-day moving average of $129.36 and a 200 day moving average of $142.72. Nucor has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 12.06% and a net margin of 8.05%. During the same period last year, the firm earned $3.16 earnings per share. As a group, sell-side analysts forecast that Nucor will post 8.18 earnings per share for the current year.

Insider Transactions at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 4,968 shares of the company’s 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 sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,680 shares of company stock worth $3,452,524. 0.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nucor

A number of hedge funds have recently modified their holdings of NUE. Ashton Thomas Securities LLC acquired a new position in shares of Nucor in the third quarter worth about $26,000. Coastline Trust Co acquired a new position in Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the 3rd quarter worth approximately $30,000. Salomon & Ludwin LLC raised its stake in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the period. Finally, Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter valued at $29,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

About Nucor

(Get Free Report)

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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Analyst Recommendations for Nucor (NYSE:NUE)

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