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Jefferies Reiterates a Buy Rating on Nucor Corp


In a report issued on July 10, Seth Rosenfeld from Jefferies reiterated a Buy rating on Nucor Corp (NYSE: NUE), with a price target of $80. The company’s shares closed yesterday at $64.12.

Rosenfeld has an average return of 23.2% when recommending Nucor Corp.

According to TipRanks.com, Rosenfeld is ranked #575 out of 4843 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nucor Corp with a $74.25 average price target.

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Based on Nucor Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $353 million. In comparison, last year the company had a net profit of $322 million.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock.

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces and distributes sheet, plate, structural, and bar steel.