Nucor Corporation (NUE) : The most positive equity analysts on Nucor Corporation (NUE) expects the shares to touch $60, whereas, the least positive believes that the stock will trade at $44 in the short term. The company is covered by 10 Wall Street Brokerage Firms. The average price target for shares are $54.5 with an expected fluctuation of $4.65 from the mean.
Nucor Corporation (NUE) reported a rise of 30.3% or 2,553,927 shares in its short interest. The short figure came in at 3.5% of the total floats. The average daily volume of 3,068,138 shares suggests that the days to cover 10,980,583 short positions, as on June 30,2016, will be 4. On June 15,2016, the short interest was 8,426,656 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Major Brokerage house, Deutsche Bank upgrades its ratings on Nucor Corporation (NYSE:NUE). In the latest research report, Deutsche Bank raises the target price from $52 per share to $60 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on July 6, 2016.
Nucor Corporation (NYSE:NUE): stock turned positive on Thursday. Though the stock opened at $56.63, the bulls momentum made the stock top out at $57.08 level for the day. The stock recorded a low of $56.18 and closed the trading day at $56.79, in the green by 0.66%. The total traded volume for the day was 2,563,169. The stock had closed at $56.42 in the previous days trading.
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.