Today’s Featured Stock
Valued at $56.9 billion, Nucor (NUE) is a leading producer of structural steel, steel bars, steel joists, steel deck, and cold finished bars in the United States. It also produces direct reduced iron (DRI) that is used in its steel mills. The company has operating facilities, primarily in the United States and Canada. Also, most of its operating facilities and customers are in North America.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. NUE checks those boxes. The Trend Seeker issued a new “Buy” signal on April 9. Since then, the stock has gained 35.84%.
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www.barchart.comBarchart Technical Indicators for Nucor
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Nucor scored an all-time high of $251.39 on May 29.
Nucor has a Weighted Alpha of +118.15. NUE has a 100% “Buy” opinion from Barchart. The stock has gained 128.35% over the past 52 weeks. Nucor has its Trend Seeker “Buy” signal intact. The stock recently traded at $250.54 with a 50-day moving average of $206.87. NUE has made 8 new highs and gained 10.48% over the past month. Relative Strength Index (RSI) is at 76.91. 60-month beta is at 1.87x. There’s a technical support level around $247.87.Don’t Forget the Fundamentals
$56.9 billion market capitalization. 24.47x trailing price-earnings ratio. 0.9% dividend yield. Analysts project revenue to grow 17.13% this year and another 1.84% next year. Earnings are estimated to increase 89.47% this year and an additional 8.05% next year.Analyst and Investor Sentiment on Nucor
The Wall Street analysts followed by Barchart give the stock 13 “Strong Buy” and 3 “Hold” opinions with price targets between $224 and $275. Value Line ranks the stock “Above Average” with price targets between $225 and $335. CFRA’s MarketScope rates the stock a “Sell” with a price target of $198. Morningstar thinks the stock is 31% overvalued with a price target of $189.46. 57,2300 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.” Short interest is 2% of the float with 2.43 days to cover the float.The Bottom Line on Nucor
I understand that both CFRA’s MarketScope and Morningstar have problems with Nucor’s valuation, but I don’t. Most companies are struggling regarding tariffs, but in this case, tariffs are in Nucor’s favor. It is a U.S. producer making increases in both revenue and earning under the advantage of protective tariffs. Smart money, the short sellers, are only shorting 2% of the float. Looks good to me.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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