Nucor Corporation [NUE] is 11.99% higher this YTD. Is it still time to buy?

Nucor Corporation [NYSE: NUE] plunged by -$3.47 during the normal trading session on Wednesday and reaching a high of $149.96 during the day while it closed the day at $147.61. The company report on April 19, 2023 at 9:00 AM that Nucor Invites You to Join Its First Quarter of 2023 Conference Call on the Web.

In conjunction with Nucor’s (NYSE: NUE) first quarter earnings release, you are invited to listen to its live conference call with host Leon Topalian, Nucor’s Chair, President and Chief Executive Officer. This conference call will include a review of Nucor’s results for the first quarter ended April 1, 2023, followed by a question-and-answer session. The event will be available on the Internet on April 20, 2023, at 2:00 p.m. Eastern Time.

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Nucor Corporation stock has also loss -0.03% of its value over the past 7 days. However, NUE stock has declined by -3.11% in the 3 months of the year. Over the past six months meanwhile, it has gained 20.90% and gained 11.99% year-on date.

The market cap for NUE stock reached $37.35 billion, with 255.43 million shares outstanding and 249.41 million shares in the current float. Compared to the average trading volume of 1.83M shares, NUE reached a trading volume of 1965052 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Nucor Corporation [NUE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NUE shares is $157.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NUE stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Nucor Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $146 to $125. The new note on the price target was released on June 14, 2022, representing the official price target for Nucor Corporation stock. Previously, the target price had yet another raise to $102, while Wolfe Research analysts kept a Underperform rating on NUE stock.

The Average True Range (ATR) for Nucor Corporation is set at 4.52, with the Price to Sales ratio for NUE stock in the period of the last 12 months amounting to 0.90. The Price to Book ratio for the last quarter was 2.05, with the Price to Cash per share for the same quarter was set at 19.20. Price to Free Cash Flow for NUE in the course of the last twelve months was 4.92 with Quick ratio for the last quarter at 2.10.

NUE stock trade performance evaluation

Nucor Corporation [NUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.03. With this latest performance, NUE shares dropped by -0.18% in over the last four-week period, additionally plugging by 20.90% over the last 6 months – not to mention a drop of -13.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NUE stock in for the last two-week period is set at 44.92, with the RSI for the last a single of trading hit 46.22, and the three-weeks RSI is set at 45.05 for Nucor Corporation [NUE]. The present Moving Average for the last 50 days of trading for this stock 157.55, while it was recorded at 147.88 for the last single week of trading, and 140.60 for the last 200 days.

Nucor Corporation [NUE]: An insightful look at the core fundamentals

Nucor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.40.

Earnings per share (EPS) analysis for Nucor Corporation [NUE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NUE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nucor Corporation go to -7.50%.

Nucor Corporation [NUE]: Insider Ownership positions

There are presently around $29,875 million, or 83.10% of NUE stock, in the hands of institutional investors. The top three institutional holders of NUE stocks are: VANGUARD GROUP INC with ownership of 32,641,370, which is approximately -2.547% of the company’s market cap and around 0.20% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 27,241,300 shares of the stock with an approximate value of $4.02 billion in NUE stocks shares; and BLACKROCK INC., currently with $3.26 billion in NUE stock with ownership of nearly -5.078% of the company’s market capitalization.

494 institutional holders increased their position in Nucor Corporation [NYSE:NUE] by around 10,943,517 shares. Additionally, 524 investors decreased positions by around 15,933,044 shares, while 195 investors held positions by with 175,515,872 shares. The mentioned changes placed institutional holdings at 202,392,433 shares, according to the latest SEC report filing. NUE stock had 151 new institutional investments in for a total of 2,553,885 shares, while 73 institutional investors sold positions of 1,207,168 shares during the same period.

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