Synalloy Corp. (NASDAQ:SYNL)’s share price rose 0.6% 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 upgraded Synalloy Corp. from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Thursday, May 12th.

The company has a 50-day moving average price of $7.48 and a 200-day moving average price of $7.76. The firm’s market capitalization is $60.28 million.

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

An institutional investor recently raised its position in Synalloy Corp. stock. Royce & Associates LLC boosted its stake in shares of Synalloy Corp. (NASDAQ:SYNL) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 563,233 shares of the company’s stock after buying an additional 15,000 shares during the period. Royce & Associates LLC owned about 6.46% of Synalloy Corp. worth $3,875,000 at the end of the most recent reporting period.

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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