Nucor (NYSE:NUE) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Nucor from “Hold” to “Strong Buy and projected earnings of $19.44 per share for fiscal 2027 and $21.21 for fiscal 2028.
• Analysts broadly remain positive, with Nucor carrying a consensus “Moderate Buy” rating and an average price target of $276.07, above its reported opening price of $256.97.
• Nucor exceeded its latest quarterly earnings and revenue estimates, reporting $4.84 EPS and $10.40 billion in revenue; however, executives recently sold shares and longer-term steel-market cyclicality remains a risk.

Nucor (NYSE:NUE - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports. Zacks Research also issued estimates for Nucor's Q3 2026 earnings at $5.61 EPS, Q4 2026 earnings at $6.84 EPS, Q3 2027 earnings at $5.13 EPS, Q4 2027 earnings at $4.20 EPS, FY2027 earnings at $19.44 EPS, Q3 2028 earnings at $6.05 EPS and FY2028 earnings at $21.21 EPS.

Several other research analysts have also issued reports on the company. Wells Fargo & Company cut their price target on Nucor from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. JPMorgan Chase & Co. reduced their price objective on Nucor from $308.00 to $296.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. KeyCorp decreased their price objective on Nucor from $288.00 to $286.00 and set an "overweight" rating for the company in a report on Monday, October 5th. Bank of America lowered their target price on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group lowered their target price on Nucor from $304.00 to $302.00 and set a "buy" rating on the stock in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $276.07.

Nucor Price Performance

Shares of NYSE NUE opened at $256.97 on Tuesday. The firm has a market capitalization of $58.30 billion, a P/E ratio of 20.49, a P/E/G ratio of 0.62 and a beta of 1.84. The firm's 50-day moving average price is $254.39 and its 200-day moving average price is $237.25. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor has a 1-year low of $131.32 and a 1-year high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the business posted $2.60 EPS. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts anticipate that Nucor will post 19.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Stephen D. Laxton sold 3,968 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nucor

A number of hedge funds have recently bought and sold shares of NUE. Venture Visionary Partners LLC increased its holdings in Nucor by 2.4% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,932 shares of the basic materials company's stock worth $452,000 after acquiring an additional 46 shares during the period. RKL Wealth Management LLC lifted its stake in Nucor by 0.9% in the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock worth $899,000 after purchasing an additional 48 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in Nucor by 3.6% in the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company's stock valued at $316,000 after purchasing an additional 49 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Nucor by 3.7% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,395 shares of the basic materials company's stock valued at $326,000 after purchasing an additional 50 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in Nucor by 3.5% in the 3rd quarter. Avior Wealth Management LLC now owns 1,506 shares of the basic materials company's stock valued at $352,000 after purchasing an additional 51 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor News Roundup

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Nucor plans to invest $105 million to expand its Nucor Towers & Structures facility in Crawfordsville, Indiana. The project will add more than 120,000 square feet of automated manufacturing capacity and create 100 jobs, positioning the company to benefit from rising U.S. electricity transmission and distribution spending. Does Nucor’s US$105 Million Grid Investment Shift The Bull Case For NUE Toward Higher-Value Steel?
• Positive Sentiment: The Indiana expansion strengthens Nucor’s exposure to higher-value utility poles and related structural products rather than relying solely on traditional steel markets. Advanced automation could improve production efficiency and margins as grid investment accelerates. What Does Nucor Indiana Utility Pole Expansion Mean For Grid Growth?
• Positive Sentiment: Zacks Research raised its Nucor EPS forecasts for fourth-quarter 2026 to $6.84 from $4.81, fourth-quarter 2027 to $4.20 from $3.50, and full-year 2027 to $19.44 from $18.83. These revisions provide a more constructive earnings backdrop, despite the firm retaining a “Hold” rating.
• Positive Sentiment: NUE was included in Zacks’ October 14 Strong Buy lists for both momentum and value stocks, reinforcing the stock’s favorable technical performance and valuation profile. Best Momentum Stocks to Buy for October 14th
• Neutral Sentiment: Nucor is scheduled to discuss its third-quarter 2026 results on an upcoming conference call, which could provide additional guidance on steel pricing, margins and demand. Nucor Invites You to Join Its Third Quarter of 2026 Conference Call
• Negative Sentiment: Zacks lowered some longer-term quarterly EPS estimates, including third-quarter 2026 to $5.61 from $5.90 and third-quarter 2027 to $5.13 from $5.23. The cuts suggest that steel-market cyclicality and margin pressure remain risks.

Nucor Company Profile

Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.

Nucor's product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.

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