The Goldman Sachs Group Cuts Nucor (NYSE:NUE) Price Target to $169.00

Nucor (NYSE:NUE) had its price objective decreased by investment analysts at The Goldman Sachs Group from $175.00 to $169.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 63.85% from the stock’s current price.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Citigroup cut their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Finally, Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.11.

Nucor Trading Down 6.1 %

NYSE:NUE opened at $103.14 on Monday. The company’s 50 day moving average is $130.19 and its 200-day moving average is $136.31. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor has a 12 month low of $95.70 and a 12 month high of $203.00. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 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 in the prior year, the firm posted $3.16 EPS. Equities analysts anticipate that Nucor will post 7.64 EPS for the current year.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Everence Capital Management Inc. bought a new stake in Nucor during the fourth quarter worth about $565,000. Geode Capital Management LLC increased its holdings in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares in the last quarter. InvesTrust bought a new position in Nucor in the 4th quarter valued at $4,388,000. Wellington Management Group LLP boosted its stake in Nucor by 15.8% in the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock worth $37,583,000 after purchasing an additional 34,149 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Nucor by 38.0% during the fourth quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock worth $987,000 after purchasing an additional 2,327 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

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.