Synalloy Corp. (NASDAQ:SYNL)’s share price rose 0.6% during mid-day trading on Tuesday . The stock traded as high as $7.35 and last traded at $7.05, with a volume of 124,733 shares changing hands. The stock had previously closed at $7.01.

Separately, Zacks Investment Research raised Synalloy Corp. from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Thursday, May 12th.

The company’s market cap is $61.04 million. The firm has a 50 day moving average of $7.43 and a 200 day moving average of $7.76.

Synalloy Corp. (NASDAQ:SYNL) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.17. The business had revenue of $34.90 million for the quarter, compared to the consensus estimate of $39.50 million. On average, analysts anticipate that Synalloy Corp. will post $0.05 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Synalloy Corp. stock. Royce & Associates LLC raised its stake in shares of Synalloy Corp. (NASDAQ:SYNL) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 563,233 shares of the company’s stock after buying an additional 15,000 shares during the period. Royce & Associates LLC owned 6.46% of Synalloy Corp. worth $3,875,000 as of its most recent filing with the SEC.

Synalloy Corporation is a chemical manufacturing company. The Company operates through two segments: the Metals Segment and the Specialty Chemicals Segment. The Company’s Metals Segment comprises three subsidiaries: Synalloy Metals, Inc, which owns Bristol Metals, LLC (BRISMET), located in Bristol, Tennessee; Palmer of Texas Tanks, Inc (Palmer), located in Andrews, Texas; and Specialty Pipe & Tube, Inc (Specialty), located in Mineral Ridge, Ohio and Houston, Texas.

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