Steel Dynamics (STLD) : Analyst Rating Update

Steel Dynamics (STLD) : The consensus on Steel Dynamics (STLD) based on 12 analyst recommendation on the company stock is 1.25, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 10 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Steel Dynamics (STLD) : The highest level Steel Dynamics (STLD) is projected to reach is $31 for the short term and the lowest estimate is at $22. The consolidated price target from 12 rating analysts who initiate coverage on the stock is $28.08 and the possibility the share price can swing is $2.39.

Steel Dynamics (NASDAQ:STLD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $25.00 and $24.99 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $25.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.53, notching a gain of 2.74% for the day. The total traded volume was 4,147,885 . The stock had closed at $24.85 on the previous day.

Also, In the latest statement by the brokerage house, Jefferies maintains its outlook on Steel Dynamics (NASDAQ:STLD). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $28 per share to $31 per share. The rating by the firm was issued on June 10, 2016. The company shares have rallied 26.59% 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 $21.53.

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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