Steel Dynamics Receives a Buy from Jefferies

By Austin Angelo

Jefferies analyst Martin Englert reiterated a Buy rating on Steel Dynamics (NASDAQ: STLD) yesterday and set a price target of $43. The company’s shares opened today at $34.96.

According to TipRanks.com, Englert is a 1-star analyst with an average return of -1.6% and a 56.0% success rate. Englert covers the Basic Materials sector, focusing on stocks such as Layne Christensen Company, United States Steel, and Jacobs Engineering.

Steel Dynamics has an analyst consensus of Strong Buy, with a price target consensus of $44.80.

Steel Dynamics’ market cap is currently $8.35B and has a P/E ratio of 16.05. The company has a book value ratio of 2.7118.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Steel Dynamics, Inc. is a diversified carbon-steel steel producer and metals recycler in the U.S. It produces a wide array of steel – beams, bars, steel sheet, and more. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Others.