Nucor (NYSE:NUE) Given New $169.00 Price Target at The Goldman Sachs Group

Nucor (NYSE:NUE) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $175.00 to $169.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 64.21% from the company’s current price.

Several other equities research analysts have also commented on NUE. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley set a $164.00 target price on shares of Nucor in a research report on Monday, March 24th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.11.

Nucor Trading Down 2.0 %

NYSE NUE opened at $102.92 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $23.73 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.96 and a beta of 1.67. Nucor has a 52-week low of $97.59 and a 52-week high of $203.00. The firm has a 50-day moving average price of $128.90 and a 200 day moving average price of $135.46.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $3.16 earnings per share. Equities research analysts expect that Nucor will post 7.64 EPS for the current year.

Institutional Trading of Nucor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUE. Geode Capital Management LLC grew its holdings in shares of Nucor by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock worth $701,255,000 after buying an additional 105,309 shares in the last quarter. Norges Bank purchased a new stake in Nucor in the 4th quarter worth approximately $398,077,000. Invesco Ltd. raised its holdings in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after acquiring an additional 384,205 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after purchasing an additional 474,274 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Hedge funds and other 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.