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Steel Dynamics (NASDAQ:STLD)‘s stock had its “outperform” rating reissued by equities research analysts at Cowen and Company in a research note issued to investors on Monday. They currently have a $27.00 price objective on the stock. Cowen and Company’s target price would indicate a potential upside of 15.88% from the stock’s previous close.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 23.30 on Monday. Steel Dynamics has a 1-year low of $15.05 and a 1-year high of $23.38. The stock’s 50-day moving average is $20.85 and its 200-day moving average is $18.49. The company has a market cap of $5.593 billion and a P/E ratio of 23.99.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.01. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.13 earnings per share. Steel Dynamics’s revenue was up 14.9% compared to the same quarter last year. On average, analysts predict that Steel Dynamics will post $1.21 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on STLD. Analysts at Credit Suisse downgraded shares of Steel Dynamics from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $23.00 price target on the stock. Separately, analysts at KeyCorp upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, July 23rd. They now have a $28.00 price target on the stock, up previously from $22.00. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.17.

Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.

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