Steel Dynamics (NASDAQ:STLD) had its target price hoisted by stock analysts at Credit Suisse Group from $43.00 to $53.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 11.60% from the company’s previous close.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Morgan Stanley set a $36.00 target price on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research report on Friday, October 20th. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Finally, Citigroup lifted their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a report on Friday, October 20th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.64.
Steel Dynamics (NASDAQ:STLD) traded up $1.14 during midday trading on Wednesday, reaching $47.49. 3,387,873 shares of the company were exchanged, compared to its average volume of 2,440,000. The firm has a market capitalization of $11,530.00, a P/E ratio of 14.09, a PEG ratio of 1.03 and a beta of 1.40. Steel Dynamics has a 52 week low of $32.15 and a 52 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.
WARNING: This news story was originally published by American Banking and Market News and is owned by of American Banking and Market News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/28/steel-dynamics-stld-pt-raised-to-53-00-at-credit-suisse-group.html.
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.