Zacks Investment Research Upgrades CF Industries Holdings, Inc. (CF) to “Buy”
CF Industries Holdings, Inc. (NYSE:CF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $42.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.39% from the stock’s previous close.
According to Zacks, “CF Industries posted a net loss in third-quarter 2017, which was wider on a year-over-year basis. However, adjusted loss and revenues beat the respective Zacks Consensus Estimate. 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. The company is also enjoying the benefit of ample natural gas supply.”
CF has been the topic of several other research reports. Credit Suisse Group set a $30.00 price target on CF Industries Holdings and gave the stock a “hold” rating in a report on Friday, August 4th. UBS AG restated a “buy” rating and set a $40.00 price target (up previously from $33.00) on shares of CF Industries Holdings in a report on Wednesday, October 4th. BidaskClub downgraded CF Industries Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. started coverage on CF Industries Holdings in a report on Wednesday, October 11th. They set a “hold” rating and a $36.30 price target on the stock. Finally, Cowen and Company upped their price target on CF Industries Holdings from $27.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $34.74.
CF Industries Holdings (NYSE CF) traded up $0.09 during mid-day trading on Tuesday, hitting $37.37. The company had a trading volume of 2,634,800 shares, compared to its average volume of 4,546,053. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.80. CF Industries Holdings has a 52-week low of $25.04 and a 52-week high of $39.32.
CF Industries Holdings (NYSE:CF) last issued its quarterly earnings results on Wednesday, November 1st. The basic materials company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.04). CF Industries Holdings had a negative return on equity of 2.29% and a negative net margin of 10.95%. The company had revenue of $870.00 million for the quarter, compared to analysts’ expectations of $733.63 million. During the same quarter last year, the company earned $0.13 EPS. CF Industries Holdings’s revenue for the quarter was up 27.9% compared to the same quarter last year. research analysts expect that CF Industries Holdings will post -0.38 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of CF Industries Holdings by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 24,160,218 shares of the basic materials company’s stock valued at $675,520,000 after purchasing an additional 523,655 shares during the period. Capital World Investors lifted its position in CF Industries Holdings by 21.4% during the 2nd quarter. Capital World Investors now owns 15,203,728 shares of the basic materials company’s stock worth $425,096,000 after acquiring an additional 2,675,809 shares during the period. Dimensional Fund Advisors LP lifted its position in CF Industries Holdings by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,888,875 shares of the basic materials company’s stock worth $108,724,000 after acquiring an additional 114,534 shares during the period. Tyrus Capital S.A.M. lifted its position in CF Industries Holdings by 7.8% during the 2nd quarter. Tyrus Capital S.A.M. now owns 2,815,000 shares of the basic materials company’s stock worth $78,707,000 after acquiring an additional 204,885 shares during the period. Finally, Glendon Capital Management LP lifted its position in CF Industries Holdings by 14.3% during the 2nd quarter. Glendon Capital Management LP now owns 2,619,751 shares of the basic materials company’s stock worth $73,248,000 after acquiring an additional 327,600 shares during the period.
About CF Industries Holdings
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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