Nucor (NYSE:NUE) Price Target Cut to $169.00 by Analysts at The Goldman Sachs Group

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

A number of other equities research analysts have also recently commented on the company. Morgan Stanley set a $164.00 price objective on Nucor in a research note on Monday, March 24th. Jefferies Financial Group lifted their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.11.

Nucor Stock Performance

Shares of NYSE:NUE opened at $103.14 on Monday. The stock has a market capitalization of $23.78 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor has a 1-year low of $95.70 and a 1-year high of $203.00. The business has a 50-day moving average price of $130.19 and a two-hundred day moving average price of $136.31.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 company earned $3.16 EPS. Equities analysts predict that Nucor will post 7.64 earnings per share for the current year.

Institutional Investors Weigh In On Nucor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Everence Capital Management Inc. acquired a new stake in shares of Nucor in the fourth quarter valued at about $565,000. Geode Capital Management LLC grew its stake in Nucor by 1.3% in the third 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 acquired a new position in shares of Nucor during the 4th quarter worth approximately $4,388,000. Wellington Management Group LLP raised its stake in shares of Nucor by 15.8% during the 3rd 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 boosted its holdings in shares of Nucor by 38.0% in the 4th quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock valued at $987,000 after buying an additional 2,327 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

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.