Steel Dynamics (STLD) : 10 analysts are covering Steel Dynamics (STLD) and their average rating on the stock is 1.7, which is read as a Buy. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Steel Dynamics (STLD) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Steel Dynamics (STLD) : Currently there are 9 street experts covering Steel Dynamics (STLD) stock. The most bullish and bearish price target for the stock is $33 and $25 respectively for the short term. The average price target of all the analysts comes to $29.44. The estimated standard deviation from the target is $2.51.
Also, Citigroup initiates coverage 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 announces the price target at $33 per share. The rating by the firm was issued on August 22, 2016.
Steel Dynamics (NASDAQ:STLD): After opening at $23.24, the stock dipped to an intraday low of $23.06 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $23.7 and the buying power remained strong till the end. The stock closed at $23.66 for the day, a gain of 1.81% for the day session. The total traded volume was 4,572,491. The stocks close on the previous trading day was $23.24.
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.