Steel Dynamics (STLD) Given a $49.00 Price Target at KeyCorp

Steel Dynamics (NASDAQ:STLD) has been assigned a $49.00 price target by research analysts at KeyCorp in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the basic materials company’s stock. KeyCorp’s target price suggests a potential upside of 6.41% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Bank of America lifted their price objective on Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Cowen set a $43.00 target price on Steel Dynamics and gave the company a “buy” rating in a report on Friday, October 20th. Citigroup lifted their target price on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and issued a $43.00 target price on shares of Steel Dynamics in a report on Friday, October 6th. Finally, Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and an average target price of $43.71.

Shares of Steel Dynamics (NASDAQ:STLD) opened at $46.05 on Wednesday. Steel Dynamics has a one year low of $32.15 and a one year high of $46.32. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $11,000.00, a price-to-earnings ratio of 21.22, a PEG ratio of 1.26 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. sell-side analysts predict that Steel Dynamics will post 2.64 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its holdings in Steel Dynamics by 6.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 72,791 shares of the basic materials company’s stock worth $2,607,000 after buying an additional 4,684 shares during the last quarter. LSV Asset Management lifted its holdings in Steel Dynamics by 70.1% during the 2nd quarter. LSV Asset Management now owns 197,000 shares of the basic materials company’s stock worth $7,054,000 after buying an additional 81,200 shares during the last quarter. Tredje AP fonden purchased a new stake in Steel Dynamics during the 2nd quarter worth about $492,000. Private Advisor Group LLC lifted its holdings in Steel Dynamics by 7.0% during the 2nd quarter. Private Advisor Group LLC now owns 14,728 shares of the basic materials company’s stock worth $535,000 after buying an additional 960 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in Steel Dynamics by 2.9% during the 2nd quarter. CIBC World Markets Inc. now owns 30,787 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 83.38% 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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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