Price Target Update on Steel Dynamics (NASDAQ:STLD)

Steel Dynamics (NASDAQ:STLD) stock is expected to deviate a maximum of $2.39 from the average target price of $28.08 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $31 and the most muted being $22.

Other Equity analysts have also commented on the company shares. Jefferies maintains its rating on Steel Dynamics (NASDAQ:STLD). The global brokerage major raises the current price target from $28 per share to $31 per share. Analysts at the Jefferies have a current rating of Buy on the shares. The rating by the firm was issued on June 10, 2016.

Steel Dynamics (NASDAQ:STLD): stock turned positive on Thursday. Though the stock opened at $25.53, the bulls momentum made the stock top out at $25.71 level for the day. The stock recorded a low of $25.03 and closed the trading day at $25.56, in the green by 1.39%. The total traded volume for the day was 2,957,148. The stock had closed at $25.21 in the previous days trading.

The company shares have rallied 13.81% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.85 and the 200 Day Moving Average price is recorded at $21.04. On the companys insider trading activities,The director of Steel Dynamics Inc, Busse Keith E sold 91,873 shares at $21.94 on March 18, 2016. The Insider selling transaction had a total value worth of $2,015,694. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations. The Company offers hot roll, cold roll, galvanized, galvanneal, Galvalume, Galfan, and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products, rounds, angles, flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment, its products include an array of both ferrous and non-ferrous scrap processing, scrap management, transportation, and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

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