Steel Dynamics (NASDAQ:STLD)‘s stock had its “outperform” rating reaffirmed by research analysts at Cowen in a research note issued on Wednesday, MarketBeat.com reports. They presently have a $60.00 price objective on the basic materials company’s stock, up from their prior price objective of $53.00. Cowen’s price objective would indicate a potential upside of 26.34% from the stock’s previous close.
Several other equities analysts have also recently commented on STLD. Zacks Investment Research cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, October 24th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Friday, October 20th. BidaskClub upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, Citigroup upped their price objective on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.64.
Steel Dynamics (STLD) traded up $1.14 during midday trading on Wednesday, hitting $47.49. The company had a trading volume of 3,387,873 shares, compared to its average volume of 2,440,000. Steel Dynamics has a fifty-two week low of $32.15 and a fifty-two week high of $48.14. The company has a quick ratio of 1.95, a current ratio of 4.04 and a debt-to-equity ratio of 0.74. The firm has a market cap of $11,530.00, a PE ratio of 14.09, a PEG ratio of 1.03 and a beta of 1.40.
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About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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