JPMorgan Chase & Co. Increases Nucor (NYSE:NUE) Price Target to $162.00

Nucor (NYSE:NUE - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $143.00 to $162.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 17.66% from the stock's current price.

A number of other research analysts have also weighed in on the company. Morgan Stanley upped their price objective on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, UBS Group lowered their target price on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.75.

Nucor Stock Performance

Shares of Nucor stock traded down $0.70 during trading hours on Monday, hitting $137.68. 236,124 shares of the company were exchanged, compared to its average volume of 2,234,084. Nucor has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $123.55 and a 200-day moving average of $123.63. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 0.91 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter last year, the company earned $3.46 EPS. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts expect that Nucor will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the sale, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the sale, the executive vice president directly owned 94,080 shares in the company, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,326 shares of company stock valued at $6,325,108. Insiders own 0.71% of the company's stock.

Institutional Trading of Nucor

Large investors have recently made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new position in Nucor during the fourth quarter worth about $29,000. Matrix Trust Co lifted its position in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock worth $31,000 after buying an additional 84 shares during the period. MV Capital Management Inc. lifted its position in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in Nucor during the fourth quarter worth about $41,000. Institutional investors and hedge funds 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.