Steel Dynamics (NASDAQ:STLD) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Steel Dynamics from a "hold" to a "buy" in a note to investors, marking a recent positive change in sentiment.
• Several analysts raised price targets (e.g., Wells Fargo to $207, JPMorgan to $205), but the MarketBeat consensus remains a "Hold" with an average price target of $185.11 (5 Buy, 4 Hold, 1 Sell).
• Fundamentals show strength: the stock traded around $200 (near a 52‑week high of $208.47), Steel Dynamics beat quarterly EPS estimates ($1.82 vs. $1.72), revenue rose 14% year‑over‑year, and market cap is about $29 billion with a P/E of ~25.

Steel Dynamics (NASDAQ:STLD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased their price target on Steel Dynamics from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday. KeyCorp assumed coverage on Steel Dynamics in a report on Wednesday, March 25th. They set an "overweight" rating and a $190.00 price target on the stock. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, Morgan Stanley restated an "underperform" rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $185.11.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $200.32 on Friday. The business has a 50 day moving average of $185.69 and a 200-day moving average of $171.75. Steel Dynamics has a 1 year low of $112.72 and a 1 year high of $208.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market capitalization of $28.99 billion, a P/E ratio of 25.01, a P/E/G ratio of 0.52 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, equities research analysts predict that Steel Dynamics will post 9.01 earnings per share for the current year.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of STLD. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC raised its position in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company's stock valued at $27,000 after buying an additional 180 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after buying an additional 150 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at $33,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.