Nucor (NYSE:NUE) Rating Lowered to “Sell” at StockNews.com

Nucor (NYSE:NUE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Monday. Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Finally, Citigroup dropped their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.11.

Nucor Stock Performance

Shares of Nucor stock traded up $1.66 during mid-day trading on Monday, hitting $104.88. 4,102,216 shares of the stock were exchanged, compared to its average volume of 2,021,501. Nucor has a 12 month low of $95.70 and a 12 month high of $203.00. The company has a 50-day simple moving average of $129.85 and a 200 day simple moving average of $136.00. The company has a market capitalization of $24.18 billion, a P/E ratio of 12.47, 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 (NYSE:NUE) last announced its quarterly earnings data 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 9.85% and a net margin of 6.60%. During the same period in the prior year, the firm posted $3.16 earnings per share. Sell-side analysts anticipate that Nucor will post 7.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.