Steel Dynamics (STLD) Rating Increased to Buy at UBS Group

Steel Dynamics (NASDAQ:STLD) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a $47.00 price objective on the basic materials company’s stock, up from their prior price objective of $35.50. UBS Group’s price target indicates a potential upside of 44.97% from the stock’s previous close.

A number of other brokerages also recently issued reports on STLD. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine raised Steel Dynamics from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 10th. Finally, Macquarie set a $36.00 price target on Steel Dynamics and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Steel Dynamics has a consensus rating of “Buy” and an average price target of $47.64.

Shares of NASDAQ:STLD opened at $32.42 on Wednesday. The company has a market cap of $7.23 billion, a P/E ratio of 5.91, a P/E/G ratio of 0.73 and a beta of 1.31. Steel Dynamics has a 1 year low of $28.91 and a 1 year high of $52.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.91. The business had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. On average, analysts anticipate that Steel Dynamics will post 3.79 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of STLD. Parallel Advisors LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at $27,000. Ffcm LLC boosted its holdings in shares of Steel Dynamics by 59.3% in the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 344 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Steel Dynamics by 36.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Steel Dynamics by 183.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 729 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its holdings in shares of Steel Dynamics by 34.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

Featured Story: What is the quiet period?

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.