Morgan Stanley Boosts CF Industries (CF) Price Target to $60.00

CF Industries (NYSE:CF) had its price objective increased by Morgan Stanley from $37.00 to $60.00 in a research note published on Wednesday. Morgan Stanley currently has a hold rating on the basic materials company’s stock.

CF has been the topic of a number of other research reports. Cowen boosted their target price on shares of CF Industries from $60.00 to $68.00 and gave the stock an outperform rating in a research note on Thursday, October 4th. Royal Bank of Canada raised shares of CF Industries from an underperform rating to a sector perform rating and boosted their target price for the stock from $38.00 to $42.00 in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of CF Industries from a hold rating to a buy rating and set a $58.00 target price on the stock in a research note on Thursday, September 6th. Stephens set a $55.00 target price on shares of CF Industries and gave the stock a hold rating in a research note on Monday, October 1st. Finally, Scotiabank reaffirmed a buy rating and set a $53.00 target price on shares of CF Industries in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. CF Industries currently has a consensus rating of Hold and an average target price of $49.78.

Shares of NYSE:CF opened at $52.43 on Wednesday. The company has a market capitalization of $12.71 billion, a P/E ratio of -209.72, a PEG ratio of 6.36 and a beta of 0.99. The company has a current ratio of 2.80, a quick ratio of 2.26 and a debt-to-equity ratio of 0.74. CF Industries has a 1 year low of $33.50 and a 1 year high of $56.51.

CF Industries (NYSE:CF) last announced its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.18. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.21 billion. CF Industries had a net margin of 13.94% and a return on equity of 1.82%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. As a group, equities analysts predict that CF Industries will post 1.43 EPS for the current fiscal year.

CF Industries announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. CF Industries’s dividend payout ratio is -480.00%.

In related news, Director Stephen A. Furbacher sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $51.43, for a total value of $51,430.00. Following the sale, the director now owns 53,690 shares of the company’s stock, valued at $2,761,276.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen A. Furbacher sold 2,000 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $49.52, for a total transaction of $99,040.00. Following the completion of the sale, the director now directly owns 54,690 shares in the company, valued at approximately $2,708,248.80. The disclosure for this sale can be found here. In the last three months, insiders sold 40,131 shares of company stock worth $1,976,560. 1.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Convergence Investment Partners LLC lifted its holdings in CF Industries by 1.2% in the second quarter. Convergence Investment Partners LLC now owns 106,567 shares of the basic materials company’s stock valued at $4,732,000 after buying an additional 1,312 shares during the period. Dupont Capital Management Corp lifted its holdings in CF Industries by 46.2% in the second quarter. Dupont Capital Management Corp now owns 4,226 shares of the basic materials company’s stock valued at $188,000 after buying an additional 1,335 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in CF Industries by 4.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,137 shares of the basic materials company’s stock valued at $1,427,000 after buying an additional 1,401 shares during the period. DnB Asset Management AS lifted its holdings in CF Industries by 6.6% in the second quarter. DnB Asset Management AS now owns 25,945 shares of the basic materials company’s stock valued at $1,152,000 after buying an additional 1,600 shares during the period. Finally, LPL Financial LLC lifted its holdings in CF Industries by 18.0% in the first quarter. LPL Financial LLC now owns 11,570 shares of the basic materials company’s stock valued at $437,000 after buying an additional 1,761 shares during the period. 99.11% of the stock is currently owned by institutional investors.

About CF Industries

CF Industries Holdings, Inc manufactures and distributes nitrogen fertilizers and other nitrogen products worldwide. The company operates through Ammonia, Granular Urea, UAN, AN, and Other segments. Its principal nitrogen fertilizer products include ammonia, granular urea, urea ammonium nitrate, and ammonium nitrate.

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