Bank of America Upgrades CF Industries (CF) to “Buy”

Bank of America upgraded shares of CF Industries (NYSE:CF) from an underperform rating to a buy rating in a report issued on Wednesday, Marketbeat reports. Bank of America currently has $55.00 target price on the basic materials company’s stock.

A number of other research analysts have also weighed in on the company. Citigroup raised their price objective on CF Industries from $50.00 to $56.00 and gave the company a neutral rating in a report on Thursday, October 11th. Morgan Stanley raised their price objective on CF Industries from $37.00 to $60.00 and gave the company a hold rating in a report on Wednesday, October 10th. Cowen raised their price objective on CF Industries from $60.00 to $68.00 and gave the company an outperform rating in a report on Thursday, October 4th. UBS Group raised their price objective on CF Industries from $58.00 to $62.00 and gave the company a buy rating in a report on Tuesday, October 2nd. Finally, Stephens set a $55.00 price objective on CF Industries and gave the company a hold rating in a report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $51.52.

CF Industries stock opened at $49.68 on Wednesday. CF Industries has a 1 year low of $33.50 and a 1 year high of $56.51. The firm has a market capitalization of $11.60 billion, a P/E ratio of 49.19, a P/E/G ratio of 4.99 and a beta of 1.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.26 and a current ratio of 2.03.

CF Industries (NYSE:CF) last announced its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $993.94 million. CF Industries had a net margin of 16.06% and a return on equity of 3.69%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, analysts forecast that CF Industries will post 1.54 EPS for the current year.

CF Industries declared that its board has approved a stock repurchase program on Wednesday, August 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.42%. CF Industries’s dividend payout ratio is presently -480.00%.

In other news, VP Rosemary L. O’brien sold 6,200 shares of CF Industries 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 transaction, the vice president now owns 36,215 shares in the company, valued at approximately $1,780,329.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen A. Furbacher sold 1,000 shares of CF Industries stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $51.43, for a total value of $51,430.00. Following the transaction, the director now owns 53,690 shares in the company, 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 worth $1,976,560. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp raised its holdings in shares of CF Industries by 7.0% during the 2nd quarter. Northern Trust Corp now owns 4,465,709 shares of the basic materials company’s stock worth $198,278,000 after acquiring an additional 291,671 shares during the period. Van ECK Associates Corp raised its holdings in CF Industries by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,218,595 shares of the basic materials company’s stock valued at $142,906,000 after buying an additional 103,834 shares during the period. Manning & Napier Group LLC raised its holdings in CF Industries by 700.3% in the 2nd quarter. Manning & Napier Group LLC now owns 2,961,421 shares of the basic materials company’s stock valued at $131,485,000 after buying an additional 2,591,386 shares during the period. Platinum Investment Management Ltd. raised its holdings in CF Industries by 7.2% in the 2nd quarter. Platinum Investment Management Ltd. now owns 2,671,833 shares of the basic materials company’s stock valued at $118,629,000 after buying an additional 180,300 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in CF Industries by 56.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,298,152 shares of the basic materials company’s stock valued at $57,638,000 after buying an additional 468,073 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

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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Analyst Recommendations for CF Industries (NYSE:CF)

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