Stock Rating Upgrade
The Value Trend Rating for Schnitzer Steel Industries Inc (NASDAQ: SCHN) improved in recent days from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
On 12/22/23, Schnitzer Steel Industries Inc (NASDAQ: SCHN) stock rose modestly by 0.9%, closing at $31.26. However, trading volume in this advance was unusually low at 51% of normal. Relative to the market the stock has been weak over the last nine months but has risen 5.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, SCHN is expected to continue to be a modest Value Builder.
Schnitzer Steel Industries has a current Value Trend Rating of C (Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Schnitzer Steel Industries has a good Appreciation Score of 75 but a poor Power Rating of 26, triggering the Neutral Value Trend Rating.
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