Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for CF Industries (NYSE:CF) Stock

CF Industries (NYSE:CF) had its price objective lifted by stock analysts at Canadian Imperial Bank of Commerce from $100.00 to $118.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. Canadian Imperial Bank of Commerce’s target price points to a potential downside of 6.30% from the stock’s previous close.

CF has been the subject of a number of other reports. Scotiabank increased their price target on CF Industries from $82.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 23rd. Barclays upped their target price on shares of CF Industries from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of CF Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. The Goldman Sachs Group reissued a “neutral” rating and issued a $103.00 price target on shares of CF Industries in a research note on Friday, February 20th. Finally, BMO Capital Markets increased their price objective on shares of CF Industries from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, CF Industries has a consensus rating of “Hold” and an average price target of $98.07.

CF Industries Trading Up 2.9%

Shares of NYSE CF traded up $3.60 during midday trading on Tuesday, reaching $125.93. 2,287,716 shares of the stock were exchanged, compared to its average volume of 3,572,230. The stock has a market capitalization of $19.35 billion, a P/E ratio of 14.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.93 and a current ratio of 3.37. The company has a 50 day simple moving average of $96.60 and a 200 day simple moving average of $87.86. CF Industries has a twelve month low of $67.34 and a twelve month high of $137.44.

CF Industries (NYSE:CF) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.06. CF Industries had a return on equity of 19.84% and a net margin of 20.54%.The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. As a group, equities analysts expect that CF Industries will post 5.83 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Michael Patrick Mcgrane sold 3,666 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $116.50, for a total transaction of $427,089.00. Following the sale, the senior vice president directly owned 19,161 shares in the company, valued at approximately $2,232,256.50. This represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard A. Hoker sold 6,184 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $109.33, for a total transaction of $676,096.72. Following the completion of the sale, the vice president directly owned 34,535 shares in the company, valued at approximately $3,775,711.55. This trade represents a 15.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 71,409 shares of company stock worth $8,589,559. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CF Industries

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of CF Industries by 2.1% during the 2nd quarter. State Street Corp now owns 7,982,072 shares of the basic materials company’s stock worth $734,351,000 after acquiring an additional 165,833 shares in the last quarter. Victory Capital Management Inc. lifted its stake in CF Industries by 10.6% during the third quarter. Victory Capital Management Inc. now owns 5,013,846 shares of the basic materials company’s stock worth $449,742,000 after purchasing an additional 480,126 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in CF Industries by 37.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,312,225 shares of the basic materials company’s stock valued at $333,501,000 after purchasing an additional 1,178,516 shares in the last quarter. Boston Partners raised its holdings in CF Industries by 15.3% during the third quarter. Boston Partners now owns 3,587,999 shares of the basic materials company’s stock worth $321,852,000 after purchasing an additional 476,769 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in CF Industries by 12.0% during the fourth quarter. Invesco Ltd. now owns 3,570,249 shares of the basic materials company’s stock worth $276,123,000 after purchasing an additional 381,716 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

CF Industries Company Profile

CF Industries Holdings, Inc is a leading global manufacturer of hydrogen and nitrogen products for agricultural and industrial customers. The company specializes in the production of ammonia, granular urea, urea ammonium nitrate (UAN), nitric acid and ammonium nitrate, which serve as key inputs for fertilizer blends, industrial chemicals and other downstream applications.

Headquartered in Deerfield, Illinois, CF Industries operates production facilities and distribution terminals across North America and the United Kingdom.