Price Target Update on Nucor Corporation (NYSE:NUE)

Nucor Corporation (NYSE:NUE) stock is expected to deviate a maximum of $4.61 from the average target price of $53.8 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $60 and the most muted being $44.

Other Equity analysts have also commented on the company shares. Jefferies maintains its view on Nucor Corporation (NYSE:NUE) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Jefferies raises the price target from $56 per share to $60 per share on Nucor Corporation. The rating by the firm was issued on June 10, 2016.

Nucor Corporation (NYSE:NUE): stock turned positive on Thursday. Though the stock opened at $50.29, the bulls momentum made the stock top out at $50.5 level for the day. The stock recorded a low of $49.51 and closed the trading day at $50.5, in the green by 1.88%. The total traded volume for the day was 3,166,006. The stock had closed at $49.57 in the previous days trading.

The company shares have rallied 4.80% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $51.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $48.76 and the 200 Day Moving Average price is recorded at $44.05. On the companys insider trading activities, Stratman Robert J, officer (Executive Vice President) of Nucor Corp, unloaded 52,631 shares at an average price of $49.9 on April 29, 2016. The total amount of the transaction was worth $2,626,287, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Companys steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials. In the steel mills segment, Nucor produces and distributes sheet steel, plate steel, structural steel and bar steel. In the steel products segment, Nucor produces steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. In the raw materials segment, the Company produces DRI; brokers ferrous and nonferrous metals, pig iron, HBI and DRI; supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.