Bank of America Raises CF Industries (NYSE:CF) Price Target to $83.00

Key Points

• Bank of America has raised its price target for CF Industries from $82.00 to $83.00, despite maintaining an "underperform" rating, indicating a potential downside of 5.84% from the current price.
• Multiple analysts have varied opinions on CF Industries, with Barclays upgrading its rating from "equal weight" to "overweight" and increasing its target price from $95.00 to $100.00.
• CF Industries reported earnings of $2.37 per share for the last quarter, exceeding analyst estimates, and observed a 20.2% year-over-year revenue increase, totalling $1.89 billion.

CF Industries (NYSE:CF - Get Free Report) had its price objective increased by investment analysts at Bank of America from $82.00 to $83.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the basic materials company's stock. Bank of America's price objective points to a potential downside of 5.84% from the company's current price.

A number of other research analysts have also issued reports on the company. Barclays upgraded CF Industries from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $95.00 to $100.00 in a report on Wednesday, August 13th. Morgan Stanley set a $95.00 target price on CF Industries and gave the company an "equal weight" rating in a report on Thursday, June 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CF Industries in a report on Saturday, September 27th. Mizuho lifted their price target on CF Industries from $97.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, BNP Paribas downgraded CF Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $95.21.

CF Industries Trading Up 0.9%

NYSE:CF opened at $88.15 on Tuesday. The firm has a market cap of $14.28 billion, a PE ratio of 11.51 and a beta of 0.93. The stock has a fifty day moving average price of $86.80 and a 200 day moving average price of $87.08. CF Industries has a 12-month low of $67.34 and a 12-month high of $104.45. The company has a current ratio of 3.22, a quick ratio of 2.84 and a debt-to-equity ratio of 0.38.

CF Industries (NYSE:CF - Get Free Report) last released its earnings results on Wednesday, August 6th. The basic materials company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.02. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.73 billion. CF Industries had a return on equity of 17.10% and a net margin of 20.19%.CF Industries's revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business posted $2.30 earnings per share. Sell-side analysts anticipate that CF Industries will post 5.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CF Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Planned Solutions Inc. increased its position in CF Industries by 3.5% during the 2nd quarter. Planned Solutions Inc. now owns 3,393 shares of the basic materials company's stock worth $312,000 after purchasing an additional 114 shares during the period. Nordea Investment Management AB boosted its stake in shares of CF Industries by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 15,262 shares of the basic materials company's stock worth $1,395,000 after acquiring an additional 114 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of CF Industries by 1.3% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 8,727 shares of the basic materials company's stock worth $682,000 after acquiring an additional 116 shares in the last quarter. Rowlandmiller & PARTNERS.ADV boosted its stake in shares of CF Industries by 4.1% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 3,325 shares of the basic materials company's stock worth $306,000 after acquiring an additional 130 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of CF Industries by 7.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,838 shares of the basic materials company's stock worth $169,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

About CF Industries

CF Industries Holdings, Inc, together with its subsidiaries, engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally. It operates through Ammonia, Granular Urea, UAN, AN, and Other segments.

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