A Lower Rating Has Been Given to Nucor Corp (NYSE:NUE) By a Morgan Stanley. $60.0 is The Target Price

September 17, 2017 - By Adrian Mccoy

  A Lower Rating Has Been Given to Nucor Corp (NYSE:NUE) By a Morgan Stanley. $60.0 is The Target Price

Investors sentiment increased to 1.03 in 2016 Q4. Its up 0.06, from 0.97 in 2016Q3. It is positive, as 49 investors sold Nucor Corporation shares while 230 reduced holdings. 106 funds opened positions while 180 raised stakes. 241.22 million shares or 0.70% more from 239.54 million shares in 2016Q3 were reported.

Nelson Roberts Investment Ltd Limited Liability Company stated it has 0.11% of its portfolio in Nucor Corporation (NYSE:NUE). First Fincl In holds 9,921 shares. Augustine Asset Incorporated owns 20,795 shares for 0.93% of their portfolio. 9,314 were reported by Tower Research Ltd (Trc). Bonness Enterp reported 2.43% stake. Mason Street Limited Company stated it has 0.07% of its portfolio in Nucor Corporation (NYSE:NUE). Moreover, Alliancebernstein Limited Partnership has 0.03% invested in Nucor Corporation (NYSE:NUE) for 604,855 shares. Gradient Invests Ltd Liability Co reported 14 shares stake. Ameriprise Fincl has invested 0.11% in Nucor Corporation (NYSE:NUE). Utah Retirement reported 58,217 shares. Fincl Counselors reported 0.01% stake. Mufg Americas reported 991 shares. Venor Management Lp stated it has 1.1% in Nucor Corporation (NYSE:NUE). Clinton Incorporated has 0.21% invested in Nucor Corporation (NYSE:NUE) for 59,797 shares. Arizona State Retirement Sys invested in 105,172 shares or 0.09% of the stock.

Nucor Corp (NYSE:NUE) Receives a Downgrade

In analysts note shared with investors and clients moments ago, Morgan Stanley lowered their rating for shares of Nucor Corp (NYSE:NUE) to a Hold. Analysts currently have set a $60.0 target price per share on the stock. Morgan Stanley’s target price per share indicates a possible upside of 12.15 % from the stock close price of the stock.

Investors sentiment increased to 1.03 in 2016 Q4. Its up 0.06, from 0.97 in 2016Q3. It is positive, as 49 investors sold Nucor Corporation shares while 230 reduced holdings. 106 funds opened positions while 180 raised stakes. 241.22 million shares or 0.70% more from 239.54 million shares in 2016Q3 were reported.

Nelson Roberts Investment Ltd Limited Liability Company stated it has 0.11% of its portfolio in Nucor Corporation (NYSE:NUE). First Fincl In holds 9,921 shares. Augustine Asset Incorporated owns 20,795 shares for 0.93% of their portfolio. 9,314 were reported by Tower Research Ltd (Trc). Bonness Enterp reported 2.43% stake. Mason Street Limited Company stated it has 0.07% of its portfolio in Nucor Corporation (NYSE:NUE). Moreover, Alliancebernstein Limited Partnership has 0.03% invested in Nucor Corporation (NYSE:NUE) for 604,855 shares. Gradient Invests Ltd Liability Co reported 14 shares stake. Ameriprise Fincl has invested 0.11% in Nucor Corporation (NYSE:NUE). Utah Retirement reported 58,217 shares. Fincl Counselors reported 0.01% stake. Mufg Americas reported 991 shares. Venor Management Lp stated it has 1.1% in Nucor Corporation (NYSE:NUE). Clinton Incorporated has 0.21% invested in Nucor Corporation (NYSE:NUE) for 59,797 shares. Arizona State Retirement Sys invested in 105,172 shares or 0.09% of the stock.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Among 19 analysts covering Nucor Corporation (NYSE:NUE), 12 have Buy rating, 0 Sell and 7 Hold. Therefore 63% are positive. Nucor Corporation has $77.5000 highest and $38 lowest target. $62.77’s average target is 17.33% above currents $53.5 stock price. Nucor Corporation had 59 analyst reports since July 22, 2015 according to SRatingsIntel. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Tuesday, September 12 report. As per Monday, October 26, the company rating was maintained by Cowen & Co. Nomura upgraded the shares of NUE in report on Monday, December 14 to “Buy” rating. The firm has “Buy” rating given on Tuesday, December 6 by Berenberg. The stock has “Overweight” rating by Morgan Stanley on Monday, February 13. On Wednesday, July 20 the stock rating was downgraded by Bank of America to “Neutral”. The firm has “Hold” rating given on Wednesday, April 13 by Standpoint Research. The rating was maintained by Jefferies on Monday, August 21 with “Buy”. The company was upgraded on Friday, June 24 by Argus Research. The rating was maintained by Rosenblatt with “Neutral” on Tuesday, May 10.

The stock decreased 0.85% or $0.46 on September 15, reaching $53.5. About 3.60 million shares traded or 72.25% up from the average. Nucor Corporation (NYSE:NUE) has risen 21.74% since September 17, 2016 and is uptrending. It has outperformed by 5.04% the S&P500.

Investors wait Nucor Corporation (NYSE:NUE) to report on October, 19. its quarterly earnings Wall Street analysts expect $1.06 earnings per share, up $0.18 or 20.45 % from last year’s $0.88 same quarter earnings. This translates into $338.61M profit for NUE giving the stock a 12.62 P/E. This is assuming the current $1.06 EPS is accurate. Nucor Corporation’s Wall Street analysts see 6.00 % EPS growth, taking into account the $1.00 EPS reproted in the previous quarter,

Nucor Corporation manufactures steel and steel products. The company has market cap of $17.09 billion. The Firm produces direct reduced iron (DRI) for use in its steel mills. It has a 14.7 P/E ratio. It operates in three divisions: steel mills, steel products and raw materials.

More recent Nucor Corporation (NYSE:NUE) news were published by: Fool.com which released: “Why Long-Term Investors Should Prefer Nucor Corporation over United States …” on August 28, 2017. Also Seekingalpha.com published the news titled: “Nucor: Potential Catalysts” on September 12, 2017. Fool.com‘s news article titled: “7 Fascinating Things You Probably Didn’t Know About Nucor Corp.” with publication date: August 20, 2017 was also an interesting one.

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