Nucor (NUE) was downgraded to a Hold Rating at Morgan Stanley

Morgan Stanley analyst Carlos De Alba downgraded Nucor to a Hold today and set a price target of $180.00.

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De Alba covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs, Nucor, and Steel Dynamics. According to TipRanks, De Alba has an average return of 17.9% and a 58.92% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nucor with a $179.00 average price target.

Based on Nucor’s latest earnings release for the quarter ending October 4, the company reported a quarterly revenue of $8.52 billion and a net profit of $607 million. In comparison, last year the company earned a revenue of $7.44 billion and had a net profit of $249.91 million

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUE in relation to earlier this year. Last month, Thomas J. Batterbee, the EVP of NUE sold 2,000.00 shares for a total of $330,540.00.