Citigroup Upgrades CF Industries (CF) to Buy

CF Industries (NYSE:CF) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Friday, The Fly reports.

Several other brokerages have also recently issued reports on CF. Royal Bank of Canada raised CF Industries from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $38.00 to $42.00 in a research report on Wednesday, July 18th. ValuEngine raised CF Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 3rd. Scotiabank reaffirmed a “buy” rating and set a $53.00 target price on shares of CF Industries in a research report on Friday, August 3rd. Stephens reaffirmed a “hold” rating and set a $53.00 target price on shares of CF Industries in a research report on Friday, August 3rd. Finally, Zacks Investment Research raised CF Industries from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. CF Industries has an average rating of “Hold” and an average target price of $50.78.

Shares of NYSE:CF opened at $51.05 on Friday. CF Industries has a 52-week low of $33.50 and a 52-week high of $56.51. The company has a market capitalization of $10.80 billion, a P/E ratio of -204.20, a PEG ratio of 5.06 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 (NYSE:CF) last announced its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). CF Industries had a return on equity of 1.82% and a net margin of 13.94%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $993.94 million. During the same period last year, the company earned ($0.39) EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts predict that CF Industries will post 1.52 earnings per share for the current fiscal year.

CF Industries announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the basic materials company to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, VP Rosemary L. O’brien sold 6,200 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $49.16, for a total transaction of $304,792.00. Following the completion of the sale, the vice president now owns 36,215 shares in the company, valued at approximately $1,780,329.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen A. Furbacher sold 1,000 shares of the 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 approximately $2,761,276.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,131 shares of company stock valued at $1,976,560. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank purchased a new position in CF Industries in the 3rd quarter worth $112,000. Blackhawk Capital Partners LLC. raised its stake in CF Industries by 485.7% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 2,665 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 2,210 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in CF Industries in the 2nd quarter worth $121,000. Point72 Hong Kong Ltd purchased a new position in CF Industries in the 2nd quarter worth $127,000. Finally, Cerebellum GP LLC purchased a new position in CF Industries in the 3rd quarter worth $195,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

CF Industries Company Profile

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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The Fly

Analyst Recommendations for CF Industries (NYSE:CF)

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