Steel Dynamics (STLD) Price Target Raised to $55.00

Steel Dynamics (NASDAQ:STLD) had its price target lifted by equities researchers at BMO Capital Markets to $55.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 15.81% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a research note on Friday, October 6th. BidaskClub raised Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a “hold” rating in a research note on Tuesday, October 24th. KeyCorp set a $49.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Citigroup upped their price objective on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.64.

Steel Dynamics (NASDAQ STLD) traded up $1.14 during trading hours on Wednesday, reaching $47.49. The company’s stock had a trading volume of 3,387,873 shares, compared to its average volume of 2,440,000. Steel Dynamics has a twelve month low of $32.15 and a twelve month 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 company has a market capitalization of $11,530.00, a price-to-earnings ratio of 14.09, a PEG ratio of 1.03 and a beta of 1.40.

Several large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC raised its position in Steel Dynamics by 0.7% during the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3 shares during the period. Advisory Services Network LLC raised its position in Steel Dynamics by 2.3% during the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the period. First Allied Advisory Services Inc. raised its position in Steel Dynamics by 2.8% during the second quarter. First Allied Advisory Services Inc. now owns 8,296 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 223 shares during the period. M&T Bank Corp raised its position in Steel Dynamics by 2.7% during the second quarter. M&T Bank Corp now owns 19,829 shares of the basic materials company’s stock valued at $709,000 after purchasing an additional 515 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Steel Dynamics by 1.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 53,420 shares of the basic materials company’s stock valued at $1,913,000 after purchasing an additional 900 shares during the period. Institutional investors own 83.36% of the company’s stock.

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Steel Dynamics Company Profile

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.

The Fly

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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