Zacks Investment Research upgraded shares of CF Industries (NYSE:CF) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $48.00 price target on the basic materials company’s stock.
According to Zacks, “CF Industries has outperformed the industry it belongs to over the past six months. CF Industries is well positioned to gain from its efforts to boost production capacity. It is also likely to benefit from higher nitrogen demand driven by healthy corn plantations. Low natural gas prices have been an advantage for CF Industries. The company’s nitrogen business is enjoying the benefit of abundant natural gas supply, driven by an increase in production of North America.”
CF has been the topic of a number of other research reports. UBS Group reissued a buy rating and set a $40.00 price objective (up previously from $33.00) on shares of CF Industries in a report on Wednesday, October 4th. Cowen increased their price objective on CF Industries from $27.00 to $33.00 and gave the company a market perform rating in a report on Wednesday, November 8th. assumed coverage on CF Industries in a report on Wednesday, October 11th. They set a hold rating and a $36.30 price objective on the stock. Stephens assumed coverage on CF Industries in a report on Monday, December 4th. They issued an equal weight rating and a $38.00 target price on the stock. Finally, Piper Jaffray Companies set a $28.00 target price on CF Industries and gave the company a hold rating in a report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $35.35.
CF Industries (CF) traded up $0.60 on Tuesday, hitting $43.14. The stock had a trading volume of 2,330,600 shares, compared to its average volume of 1,878,350. CF Industries has a 52 week low of $25.04 and a 52 week high of $43.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.71 and a quick ratio of 1.51. The stock has a market cap of $10,060.00, a P/E ratio of -23.57, a PEG ratio of 31.91 and a beta of 1.21.
CF Industries (NYSE:CF) last posted its quarterly earnings results on Wednesday, November 1st. The basic materials company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.04). The firm had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $733.63 million. CF Industries had a negative return on equity of 2.29% and a negative net margin of 10.95%. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. equities analysts forecast that CF Industries will post -0.35 earnings per share for the current year.
In related news, Director Stephen A. Furbacher sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $36.00, for a total transaction of $126,000.00. Following the completion of the transaction, the director now owns 50,854 shares in the company, valued at approximately $1,830,744. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bert A. Frost sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $36.50, for a total value of $273,750.00. Following the transaction, the vice president now owns 67,232 shares of the company’s stock, valued at approximately $2,453,968. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CF. Saratoga Research & Investment Management bought a new position in CF Industries in the 3rd quarter valued at $108,000. Ffcm LLC raised its position in CF Industries by 218.4% in the 2nd quarter. Ffcm LLC now owns 4,041 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 2,772 shares during the last quarter. Pacad Investment Ltd. bought a new position in CF Industries in the 2nd quarter valued at $126,000. BT Investment Management Ltd bought a new position in CF Industries in the 2nd quarter valued at $126,000. Finally, Pacer Advisors Inc. raised its position in CF Industries by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,648 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 355 shares during the last quarter.
About CF Industries
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizer, and other nitrogen products. The Company’s nitrogen fertilizer products are ammonia, granular urea, urea ammonium nitrate solution (UAN) and ammonium nitrate (AN). Its other nitrogen products include diesel exhaust fluid (DEF), urea liquor, nitric acid and aqua ammonia, which are sold primarily to the Company’s industrial customers, and compound fertilizer products (nitrogen, phosphorus and potassium or NPKs).
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