Nucor (NYSE:NUE) Price Target Raised to $212.00

Key Points

• JPMorgan raised its price target on Nucor to $212 from $198 and maintained an Overweight rating, implying roughly a 10.9% upside from current levels.
• Nucor's board approved a $4.0 billion stock repurchase plan — about 9.7% of outstanding shares — indicating management views the shares as undervalued.
• Shares opened at $191.23 (12‑month range $105.92–$196.90); the stock trades at a PE of 25.22, analysts have a consensus Moderate Buy with a $194 target, and Nucor missed last quarter's EPS ($1.73 vs. $1.91 expected).

Nucor (NYSE:NUE - Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $198.00 to $212.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 10.86% from the company's current price.

NUE has been the topic of a number of other research reports. The Goldman Sachs Group initiated coverage on Nucor in a research note on Wednesday, April 1st. They set a "buy" rating and a $210.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a research report on Monday, December 29th. Wells Fargo & Company lifted their target price on shares of Nucor from $194.00 to $197.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. KeyCorp began coverage on shares of Nucor in a research note on Wednesday, March 25th. They set a "sector weight" rating on the stock. Finally, BNP Paribas Exane raised their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, January 2nd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.00.

Nucor Stock Performance

Shares of NUE opened at $191.23 on Tuesday. Nucor has a 12 month low of $105.92 and a 12 month high of $196.90. The stock has a fifty day moving average price of $175.53 and a 200-day moving average price of $162.68. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm has a market cap of $43.53 billion, a PE ratio of 25.22, a P/E/G ratio of 0.66 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that Nucor will post 7.64 earnings per share for the current fiscal year.

Nucor announced that its board has approved a stock repurchase plan on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the company's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company's stock, valued at approximately $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,401 shares of company stock worth $4,936,152 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Nucor

Hedge funds have recently modified their holdings of the stock. Strive Financial Group LLC purchased a new stake in Nucor in the 4th quarter worth approximately $27,000. Stance Capital LLC purchased a new position in shares of Nucor during the 3rd quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Nucor in the 4th quarter valued at $32,000. Motiv8 Investments LLC purchased a new stake in Nucor during the fourth quarter worth $32,000. Finally, Reflection Asset Management acquired a new stake in Nucor during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

About Nucor

Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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