Nucor (NYSE:NUE) Given New $169.00 Price Target at The Goldman Sachs Group

Nucor (NYSE:NUE - Get Free Report) had its price objective cut by equities researchers at The Goldman Sachs Group from $175.00 to $169.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. The Goldman Sachs Group's target price suggests a potential upside of 51.96% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and boosted their target price for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and a consensus target price of $162.11.

Nucor Trading Up 1.6 %

NYSE NUE traded up $1.78 on Monday, hitting $111.22. 1,779,375 shares of the stock were exchanged, compared to its average volume of 2,055,409. The company's 50-day moving average price is $127.54 and its two-hundred day moving average price is $134.56. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.96 and a beta of 1.67. Nucor has a 52-week low of $97.59 and a 52-week high of $198.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the firm posted $3.16 earnings per share. Research analysts predict that Nucor will post 7.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter worth $25,000. Crews Bank & Trust bought a new position in shares of Nucor during the 4th quarter worth about $29,000. Putney Financial Group LLC acquired a new position in shares of Nucor during the fourth quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new stake in shares of Nucor in the fourth quarter valued at about $33,000. Finally, Versant Capital Management Inc increased its stake in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 114 shares during the period. 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.