BofA Securities slashes price target on Steel Dynamics Inc. [STLD] – find out why.

Steel Dynamics Inc. [NASDAQ: STLD] price surged by 9.99 percent to reach at $11.03. The company report on January 26, 2023 that Reminder: Steel Dynamics Announces Fourth Quarter and Full-Year 2022 Earnings Conference Call and Webcast.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Steel Dynamics, Inc. (NASDAQ/GS: STLD), one of the largest domestic steel producers and metals recyclers in the United States, today announced it intends to release Fourth Quarter and Full-Year 2022 financial results after market close on Wednesday, January 25, 2023. The teleconference is scheduled to begin at 10:00 a.m. Eastern Daylight Time on Thursday January 26, 2023 and will be hosted by Mark D. Millett, Chairman, President, and Chief Executive Officer, and Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

To participate, please dial +1.973.528.0011 at least ten minutes before the start time and reference the Steel Dynamics Fourth Quarter and Full-Year 2022 Earnings Call. The teleconference can also be accessed (in listen-only mode) by visiting the company’s website at Webcast participants are encouraged to log in prior to the 10:00 a.m. Eastern Daylight Time start to ensure connection before the beginning of the call. An audio replay version of the teleconference can be accessed by dialing +1.919.882.2331 and entering conference ID number 47426. The audio replay link will be available on the company’s website until 11:59 p.m. Eastern Daylight Time on February 2, 2023. An MP3 file of the event will be available on the company’s website that can be accessed for online replay or download.

A sum of 3731473 shares traded at recent session while its average daily volume was at 2.32M shares. Steel Dynamics Inc. shares reached a high of $121.76 and dropped to a low of $111.86 until finishing in the latest session at $121.44.

The one-year STLD stock forecast points to a potential downside of -24.29. The average equity rating for STLD stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Steel Dynamics Inc. [STLD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STLD shares is $97.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STLD stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Steel Dynamics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2023. The new note on the price target was released on December 06, 2022, representing the official price target for Steel Dynamics Inc. stock. Previously, the target price had yet another drop from $89 to $88, while Goldman kept a Buy rating on STLD stock. On May 31, 2022, analysts decreased their price target for STLD shares from 114 to 92.

The Average True Range (ATR) for Steel Dynamics Inc. is set at 4.27, with the Price to Sales ratio for STLD stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 11.49. Price to Free Cash Flow for STLD in the course of the last twelve months was 6.96 with Quick ratio for the last quarter at 2.10.

STLD Stock Performance Analysis:

Steel Dynamics Inc. [STLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.15. With this latest performance, STLD shares gained by 18.37% in over the last four-week period, additionally plugging by 66.74% over the last 6 months – not to mention a rise of 124.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STLD stock in for the last two-week period is set at 74.54, with the RSI for the last a single of trading hit 81.52, and the three-weeks RSI is set at 69.95 for Steel Dynamics Inc. [STLD]. The present Moving Average for the last 50 days of trading for this stock 104.94, while it was recorded at 111.12 for the last single week of trading, and 85.95 for the last 200 days.

Insight into Steel Dynamics Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Steel Dynamics Inc. [STLD] shares currently have an operating margin of +23.53 and a Gross Margin at +27.03. Steel Dynamics Inc.’s Net Margin is presently recorded at +17.46.

Return on Equity for this stock inclined to 60.36, with Return on Assets sitting at 29.33.

Steel Dynamics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.70.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steel Dynamics Inc. go to 28.06%.

Steel Dynamics Inc. [STLD] Insider Position Details

There are presently around $17,146 million, or 85.70% of STLD stock, in the hands of institutional investors. The top three institutional holders of STLD stocks are: BLACKROCK INC. with ownership of 22,906,842, which is approximately -5.087% of the company’s market cap and around 5.80% of the total institutional ownership; VANGUARD GROUP INC, holding 19,573,881 shares of the stock with an approximate value of $2.38 billion in STLD stocks shares; and FMR LLC, currently with $1.01 billion in STLD stock with ownership of nearly 1.46% of the company’s market capitalization.

Positions in Steel Dynamics Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 262 institutional holders increased their position in Steel Dynamics Inc. [NASDAQ:STLD] by around 6,009,814 shares. Additionally, 342 investors decreased positions by around 11,407,522 shares, while 73 investors held positions by with 123,770,072 shares. The mentioned changes placed institutional holdings at 141,187,408 shares, according to the latest SEC report filing. STLD stock had 81 new institutional investments in for a total of 1,781,362 shares, while 63 institutional investors sold positions of 1,212,661 shares during the same period.


Please enter your comment!
Please enter your name here