Nucor Corporation (NUE) : 11 analysts are covering Nucor Corporation (NUE) and their average rating on the stock is 2.27, which is read as a Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Nucor Corporation (NUE) : 9 Wall Street analysts covering Nucor Corporation (NUE) believe that the average level the stock could reach for the short term is $55.83. The maximum price target given is $60 and the minimum target for short term is around $44, hence the standard deviation is calculated at $4.86.
Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Berenberg downgrades its outlook on Nucor Corporation (NYSE:NUE). The current rating of the shares is Hold, according to the research report released by the firm. Previously, the company had a rating of Buy. The rating by the firm was issued on July 25, 2016.
Nucor Corporation (NYSE:NUE): The stock opened at $49.3 and touched an intraday high of $49.97 on Wednesday. During the day, the stock corrected to an intraday low of $49.13, however, the bulls stepped in and pushed the price higher to close in the green at $49.97 with a gain of 0.79% for the day. The total traded volume for the day was 2,853,731. The stock had closed at $49.58 in the previous trading session.
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.