Steel Dynamics (STLD) Raised to “Buy” at ValuEngine

Steel Dynamics (NASDAQ:STLD) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities research analysts have also recently weighed in on STLD. Jefferies Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. BidaskClub cut shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Credit Suisse Group boosted their price target on shares of Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. BMO Capital Markets boosted their price target on shares of Steel Dynamics to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and a consensus price target of $46.64.

Shares of Steel Dynamics (NASDAQ:STLD) traded down $1.41 on Friday, reaching $44.15. 2,180,400 shares of the company were exchanged, compared to its average volume of 2,286,957. Steel Dynamics has a 52-week low of $32.15 and a 52-week high of $48.28. The stock has a market capitalization of $10,461.43, a PE ratio of 13.10, a PEG ratio of 0.95 and a beta of 1.34. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74.

Large investors have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in shares of Steel Dynamics in the second quarter valued at about $107,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Steel Dynamics in the third quarter valued at about $112,000. Hefty Wealth Partners raised its holdings in shares of Steel Dynamics by 76.1% in the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after buying an additional 1,477 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at about $132,000. 83.38% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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