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Steel Dynamics (STLD) Stock Forecast & Price Target

$132.04
-0.67 (-0.50%)
(As of 09:43 AM ET)

Steel Dynamics - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 7 Wall Street analysts who have issued ratings for Steel Dynamics in the last 12 months, the stock has a consensus rating of "Hold." Out of the 7 analysts, 1 has given a sell rating, 5 have given a hold rating, and 1 has given a buy rating for STLD.

Consensus Price Target

$133.86
1.38% Upside
High Forecast$160.00
Average Forecast$133.86
Low Forecast$108.00

According to the 7 analysts' twelve-month price targets for Steel Dynamics, the average price target is $133.86. The highest price target for STLD is $160.00, while the lowest price target for STLD is $108.00. The average price target represents a forecasted upside of 1.38% from the current price of $132.04.

TypeCurrent Forecast
7/18/23 to 7/17/24
1 Month Ago
6/18/23 to 6/17/24
3 Months Ago
4/19/23 to 4/18/24
1 Year Ago
7/18/22 to 7/18/23
Consensus Rating
Hold
Hold
Hold
Hold
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
1 Buy rating(s)
1 Buy rating(s)
2 Buy rating(s)
1 Buy rating(s)
Hold
5 Hold rating(s)
5 Hold rating(s)
4 Hold rating(s)
7 Hold rating(s)
Sell
1 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
Consensus Price Target$133.86$125.29$120.29$107.67
Forecasted Upside1.38% Upside-0.68% Downside-2.15% Downside-1.23% Downside
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STLD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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STLD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Steel Dynamics Stock vs. The Competition

TypeSteel DynamicsBasic Materials CompaniesS&P 500
Consensus Rating Score
2.00
2.63
2.50
Consensus RatingHoldModerate BuyModerate Buy
Predicted Upside0.86% Upside381.68% Upside7.52% Upside
News Sentiment RatingPositive News
Neutral News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/16/2024JPMorgan Chase & Co.
3 of 5 stars
 Boost TargetUnderweight ➝ Underweight$118.00 ➝ $120.00-8.51%
6/26/2024Bank of America
4 of 5 stars
 Lower TargetNeutral ➝ Neutral$150.00 ➝ $145.00+16.69%
6/18/2024BMO Capital Markets
3 of 5 stars
 Lower TargetMarket Perform ➝ Market Perform$140.00 ➝ $135.00+7.88%
5/20/2024Jefferies Financial Group
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 Initiated CoverageHold$150.00+12.00%
3/13/2024Citigroup
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 Boost TargetBuy ➝ Buy$130.00 ➝ $160.00+14.45%
1/24/2024UBS Group
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 Lower TargetNeutral ➝ Neutral$120.00 ➝ $119.00+2.87%
10/31/2023Morgan Stanley
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 Boost TargetEqual Weight ➝ Equal Weight$99.00 ➝ $108.00+3.26%
7/5/2023BNP Paribas
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 DowngradeOutperform ➝ Neutral$102.00-7.93%
4/21/2023Credit Suisse Group
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 Boost TargetOutperform$106.00 ➝ $115.00+3.18%
1/27/2023The Goldman Sachs Group
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 DowngradeBuy ➝ Neutral$114.00 ➝ $118.00-2.83%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 10:02 AM ET.

STLD Forecast - Frequently Asked Questions

What is Steel Dynamics' forecast for 2024?

According to the research reports of 7 Wall Street equities research analysts, the average twelve-month stock price forecast for Steel Dynamics is $133.86, with a high forecast of $160.00 and a low forecast of $108.00.

Should I buy or sell Steel Dynamics stock right now?

7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Steel Dynamics in the last twelve months. There is currently 1 sell rating, 5 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" STLD shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in STLD, but not buy additional shares or sell existing shares.

Does Steel Dynamics's stock price have much upside?

According to analysts, Steel Dynamics's stock has a predicted upside of 7.14% based on their 12-month stock forecasts.

What analysts cover Steel Dynamics?

Steel Dynamics has been rated by research analysts at Bank of America, BMO Capital Markets, Jefferies Financial Group, and JPMorgan Chase & Co. in the past 90 days.

Do Wall Street analysts like Steel Dynamics more than its competitors?

Analysts like Steel Dynamics less than other "basic materials" companies. The consensus rating for Steel Dynamics is Hold while the average consensus rating for "basic materials" companies is Moderate Buy. Learn more on how STLD compares to other companies.


This page (NASDAQ:STLD) was last updated on 7/17/2024 by MarketBeat.com Staff

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