Wells Fargo Sticks to Their Buy Rating for Commercial Metals Company (CMC)

In a report released today, Timna Tanners from Wells Fargo maintained a Buy rating on Commercial Metals Company, with a price target of $79.00.

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According to TipRanks, Tanners is a 3-star analyst with an average return of 1.5% and a 53.31% success rate. Tanners covers the Basic Materials sector, focusing on stocks such as Nucor, Cleveland-Cliffs, and Steel Dynamics.

In addition to Wells Fargo, Commercial Metals Company also received a Buy from Jefferies’s Chris LaFemina in a report issued on December 10. However, on December 7, TR | OpenAI – 4o reiterated a Hold rating on Commercial Metals Company (NYSE: CMC).

Based on Commercial Metals Company’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $2.11 billion and a net profit of $151.78 million. In comparison, last year the company earned a revenue of $2 billion and had a net profit of $103.93 million

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is neutral on the stock. Last month, Brian N. Halloran, the SVP, N. America Steel Group of CMC sold 6,232.00 shares for a total of $373,109.84.