Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has earned an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.50.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research report on Saturday. KeyCorp reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. ValuEngine raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Macquarie assumed coverage on shares of Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price objective on the stock. Finally, BidaskClub downgraded shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.

A number of hedge funds have recently bought and sold shares of SCHN. BlueCrest Capital Management Ltd bought a new stake in Schnitzer Steel Industries in the second quarter worth approximately $228,000. GW&K Investment Management LLC bought a new stake in Schnitzer Steel Industries in the second quarter worth approximately $246,000. Menta Capital LLC bought a new stake in Schnitzer Steel Industries in the second quarter worth approximately $247,000. American International Group Inc. grew its position in Schnitzer Steel Industries by 7.1% in the first quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock worth $332,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Schnitzer Steel Industries by 252.3% in the second quarter. Royal Bank of Canada now owns 13,285 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 22,009 shares in the last quarter. 82.37% of the stock is owned by institutional investors.

WARNING: “Schnitzer Steel Industries, Inc. (SCHN) Receives $26.00 Average PT from Brokerages” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/10/17/schnitzer-steel-industries-inc-schn-receives-26-00-average-pt-from-brokerages.html.

Shares of Schnitzer Steel Industries (SCHN) traded down 0.17% during trading on Thursday, hitting $29.05. 127,062 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $27.34 and its 200 day moving average is $23.31. The firm has a market capitalization of $801.78 million, a PE ratio of 18.89 and a beta of 1.34. Schnitzer Steel Industries has a 1-year low of $17.50 and a 1-year high of $30.60.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

Receive News & Stock Ratings for Schnitzer Steel Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries Inc. and related stocks with our FREE daily email newsletter.