Steel Dynamics (STLD) Stock Forecast & Price Target

$123.29

-3.33 (-2.63%)

(As of 07/24/2024 ET)

Steel Dynamics - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 7 Analyst Ratings

Based on 7 Wall Street analysts who have issued ratings for Steel Dynamics in the last 12 months, the stock has a consensus rating of "Hold." Out of the 7 analysts, 1 has given a sell rating, 5 have given a hold rating, and 1 has given a buy rating for STLD.

Consensus Price Target

$133.86
8.57% Upside

High Forecast	$160.00
Average Forecast	$133.86
Low Forecast	$108.00

According to the 7 analysts' twelve-month price targets for Steel Dynamics, the average price target is $133.86. The highest price target for STLD is $160.00, while the lowest price target for STLD is $108.00. The average price target represents a forecasted upside of 8.57% from the current price of $123.29.

Type	Current Forecast 7/25/23 to 7/24/24	1 Month Ago 6/25/23 to 6/24/24	3 Months Ago 4/26/23 to 4/25/24	1 Year Ago 7/25/22 to 7/25/23
Consensus Rating	Hold	Hold	Hold	Hold
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	1 Buy rating(s)	1 Buy rating(s)	1 Buy rating(s)
Hold	5 Hold rating(s)	5 Hold rating(s)	4 Hold rating(s)	7 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$133.86	$127.43	$121.17	$108.44
Forecasted Upside	8.57% Upside	2.71% Upside	-2.95% Downside	1.90% Upside

Get Steel Dynamics Upgrade and Downgrade Alerts

Sign-up to receive the latest news and ratings for STLD and its competitors with MarketBeat's FREE daily newsletter.

Ad InvestorPlace

Jeff Bezos’s Terrifying New Technology

Please understand — if you thought AI was a threat, just wait until you see what Jeff Bezos has done with QaaS. 99% of Americans have no idea what’s about to happen. What humanity is about to witness is the greatest tech disruption of all time.

Go here now to see the full details.

STLD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

STLD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Steel Dynamics Stock vs. The Competition

Type	Steel Dynamics	Basic Materials Companies	S&P 500
Consensus Rating Score	2.00	2.64	2.51
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	8.57% Upside	244.25% Upside	10.62% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
7/16/2024	JPMorgan Chase & Co. 3 of 5 stars	Boost Target	Underweight ➝ Underweight	$118.00 ➝ $120.00	-8.51%
6/26/2024	Bank of America 4 of 5 stars	Lower Target	Neutral ➝ Neutral	$150.00 ➝ $145.00	+16.69%
6/18/2024	BMO Capital Markets 3 of 5 stars	Lower Target	Market Perform ➝ Market Perform	$140.00 ➝ $135.00	+7.88%
5/20/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Hold	$150.00	+12.00%
3/13/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$130.00 ➝ $160.00	+14.45%
1/24/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$120.00 ➝ $119.00	+2.87%
Get the Latest News and Ratings for STLD and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Steel Dynamics and its competitors with MarketBeat's FREE daily newsletter.
10/31/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Equal Weight ➝ Equal Weight	$99.00 ➝ $108.00	+3.26%
7/5/2023	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Neutral	$102.00	-7.93%
4/21/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform	$106.00 ➝ $115.00	+3.18%
1/27/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral	$114.00 ➝ $118.00	-2.83%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 11:15 PM ET.

STLD Forecast - Frequently Asked Questions

What is Steel Dynamics' forecast for 2024?: According to the research reports of 7 Wall Street equities research analysts, the average twelve-month stock price forecast for Steel Dynamics is $133.86, with a high forecast of $160.00 and a low forecast of $108.00.
Should I buy or sell Steel Dynamics stock right now?: 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Steel Dynamics in the last year. There is currently 1 sell rating, 5 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" STLD shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in STLD, but not buy additional shares or sell existing shares.
Does Steel Dynamics's stock price have much upside?: According to analysts, Steel Dynamics's stock has a predicted upside of 7.14% based on their 12-month stock forecasts.
What analysts cover Steel Dynamics?: Steel Dynamics has been rated by research analysts at Bank of America, BMO Capital Markets, Jefferies Financial Group, and JPMorgan Chase & Co. in the past 90 days.
Do Wall Street analysts like Steel Dynamics more than its competitors?: Analysts like Steel Dynamics less than other "basic materials" companies. The consensus rating for Steel Dynamics is Hold while the average consensus rating for "basic materials" companies is Moderate Buy. Learn more on how STLD compares to other companies.