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Jefferies Sticks to Its Buy Rating for Steel Dynamics


Jefferies analyst Seth Rosenfeld reiterated a Buy rating on Steel Dynamics (NASDAQ: STLD) on July 10 and set a price target of $56. The company’s shares closed yesterday at $47.27.

According to TipRanks.com, Rosenfeld is a 4-star analyst with an average return of 14.2% and a 70.2% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs Inc, Ryerson Holdings, and Reliance Steel.

Steel Dynamics has an analyst consensus of Moderate Buy, with a price target consensus of $54.50.

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Based on Steel Dynamics’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $228 million. In comparison, last year the company had a net profit of $154 million.

Based on the recent corporate insider activity of 86 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.