Nucor (NUE): New Buy Recommendation for This Basic Materials Giant

In a report released today, Chris LaFemina from Jefferies maintained a Buy rating on Nucor, with a price target of $200.00.

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LaFemina covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, Nucor, and Steel Dynamics. According to TipRanks, LaFemina has an average return of 13.9% and a 55.44% success rate on recommended stocks.

In addition to Jefferies, Nucor also received a Buy from TipRanks – OpenAI’s OpenAI Steel in a report issued today. However, on the same day, TipRanks – Anthropic downgraded Nucor (NYSE: NUE) to a Hold.

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.