Zacks Investment Research upgraded shares of CF Industries (NYSE:CF) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $50.00 target price on the basic materials company’s stock.
According to Zacks, “Earnings estimates for CF Industries for the second quarter are going up over the past month. The company is well placed to benefit from higher nitrogen fertilizer demand in major markets. Higher nitrogen prices are also likely to continue supporting its sales and margins. Further, the company is expected to gain from its efforts to boost production capacity. Moreover, it is enjoying the benefits of ample natural gas supply. CF Industries also remains committed to boost shareholder returns. It has also outperformed the industry over a year. However, CF Industries has a debt-laden balance sheet. Moreover, it is exposed to challenging agriculture market fundamentals. Declining sales in the ammonia unit is another concern. Also, the prevailing softness in agricultural commodity pricing is a concern, which it is hindering fertilizer use by farmers.”
Other equities research analysts have also issued reports about the company. Bank of America upgraded Royal Bank of Scotland Group from an underperform rating to a neutral rating in a research report on Thursday, April 18th. Citigroup set a $27.00 price objective on StoneCo and gave the stock a hold rating in a research report on Friday, May 31st. Cowen restated a buy rating on shares of Mirati Therapeutics in a research report on Wednesday, May 15th. ValuEngine upgraded CF Industries from a hold rating to a buy rating in a research report on Sunday, June 16th. Finally, Berenberg Bank set a $43.00 price objective on CF Industries and gave the stock a hold rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $50.41.
CF Industries (NYSE:CF) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). CF Industries had a return on equity of 4.81% and a net margin of 7.09%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that CF Industries will post 2.04 EPS for the current fiscal year.
In other news, Director Stephen A. Furbacher sold 3,000 shares of CF Industries stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $42.01, for a total transaction of $126,030.00. Following the completion of the sale, the director now directly owns 47,190 shares in the company, valued at approximately $1,982,451.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard A. Hoker sold 3,665 shares of CF Industries stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $41.15, for a total value of $150,814.75. Following the sale, the vice president now owns 63,383 shares of the company’s stock, valued at $2,608,210.45. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CF. CSat Investment Advisory L.P. raised its stake in shares of CF Industries by 81.3% in the 4th quarter. CSat Investment Advisory L.P. now owns 620 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 278 shares in the last quarter. Rational Advisors LLC raised its stake in shares of CF Industries by 874.0% in the 1st quarter. Rational Advisors LLC now owns 711 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 638 shares in the last quarter. Community Bank N.A. bought a new position in shares of CF Industries in the 1st quarter valued at approximately $30,000. Parallel Advisors LLC raised its stake in shares of CF Industries by 218.8% in the 1st quarter. Parallel Advisors LLC now owns 1,221 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 838 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of CF Industries by 37.6% in the 1st quarter. Signaturefd LLC now owns 1,592 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 435 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.
CF Industries Company Profile
CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. Its principal nitrogen fertilizer products include ammonia, granular urea, urea ammonium nitrate solution, and ammonium nitrate. The company also offers diesel exhaust fluid, urea liquor, nitric acid, and aqua ammonia products, as well as compound fertilizer products with nitrogen, phosphorus, and potassium.
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