Nucor Corporation (NUE) : Analyst Rating Update

Nucor Corporation (NUE) : The consensus on Nucor Corporation (NUE) based on 12 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 7 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Nucor Corporation (NUE) : The highest short term price target forecast on Nucor Corporation (NUE) is $60 and the lowest target price is $44. A total of 10 equity analysts are currently covering the company. The average price of all the analysts is $53.4 with a standard deviation of $4.27.

Nucor Corporation (NYSE:NUE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.23 and $49.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $51.11. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.08, notching a gain of 4.33% for the day. The total traded volume was 4,712,304 . The stock had closed at $48.96 on the previous day.

Also, Brokerage firm Argus Research upgrades its rating on Nucor Corporation (NYSE:NUE). In a research note issued to the investors, the brokerage major maintains price-target of $58 per share.The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on June 24, 2016. The company shares have rallied 14.39% 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 $48.96 and the 200 Day Moving Average price is recorded at $44.63.

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.

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