J.P. Morgan Reaffirms Their Hold Rating on Steel Dynamics (STLD)

J.P. Morgan analyst Bill Peterson maintained a Hold rating on Steel Dynamics yesterday and set a price target of $210.00.

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According to TipRanks, Peterson is a 4-star analyst with an average return of 7.2% and a 50.79% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Steel Dynamics, Nucor, and Constellium.

In a report released on April 30, Bank of America Securities also downgraded the stock to a Hold with a $250.00 price target.

Based on Steel Dynamics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.2 billion and a net profit of $403.44 million. In comparison, last year the company earned a revenue of $4.37 billion and had a net profit of $217.15 million

Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STLD in relation to earlier this year. Earlier this month, Christopher A. Graham, the SVP of STLD sold 9,000.00 shares for a total of $2,131,290.38.