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A statement released earlier today by Citigroup about Steel Dynamics Inc. (NASDAQ:STLD) bumps the target price to $33.00

Steel Dynamics Inc. (NASDAQ:STLD) had its target price bumped up to $33 by Citigroup in a report released 8/22/2016. The increased target price implies a possible upside of 0.33% from the company’s previous closing price.

Only yesterday Steel Dynamics Inc. (NASDAQ:STLD) traded 0.72% lower at $24.79. The company’s 50-day average is $25.42 and its two hundred day moving average is $24.40. With the last stock close up 3.73% relative to the two hundred day moving average, compared to the Standard & Poor’s 500 Index which has fallen -0.01% over the same period. 4,766,860 shares of Steel Dynamics Inc. exchanged hands, up from ann avg. trading volume of 3,047,220.

Recent Performance Chart:

Steel Dynamics Inc. (NASDAQ:STLD)

Steel Dynamics Inc. has a 52 week low of $15.32 and a one-year high of $28.01 with a price-earnings ratio of 479 and has a market cap of $0.0.

In addition to Citigroup reporting it’s stock price target, a total of 16 analysts have issued a ratings update on Steel Dynamics Inc.. The one year target stock price is $27.63 with three firms rating the stock a strong buy, 11 firms rating the stock a buy, two firms rating the stock a hold, 0 rating the stock to underperform, and lastly 0 brokeragesrating the company as sell.

General Company Details For Steel Dynamics Inc. (NASDAQ:STLD)

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The Company is engaged in manufacturing and selling of steel products, processing and selling of recycled ferrous and non-ferrous metals, and fabricating and selling of steel joist and deck products. Its segments include steel operations, which include the Company’s Butler Flat Roll Division, Columbus Flat Roll Division, The Techs galvanizing lines, Structural and Rail Division, Engineered Bar Products Division, Roanoke Bar Division, Steel of West Virginia and Iron Dynamics (IDI); metals recycling operations, which include both ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage and consulting services; steel fabrication operations, which include over eight New Millennium Building Systems joist and deck plants located throughout the United States and Northern Mexico, and other operations, which consist of its Minnesota ironmaking operations, and and several smaller joint ventures.

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