Synalloy Corporation (NASDAQ:SYNL) Getting Somewhat Positive News Coverage, Analysis Finds

News coverage about Synalloy Corporation (NASDAQ:SYNL) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Synalloy Corporation earned a news impact score of 0.03 on Accern’s scale. Accern also assigned headlines about the industrial products company an impact score of 47.0868571963545 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:

• Synalloy Raises FY17 Adj. EBITDA Forecast (finanznachrichten.de)
• Edited Transcript of SYNL earnings conference call or presentation 8-Aug-17 1:00pm GMT (finance.yahoo.com)
• Synalloy posts 2Q profit (finance.yahoo.com)
• Synalloy Corporation (SYNL) Announces Earnings Results (americanbankingnews.com)
• Synalloy Corporation : Investor Network: Synalloy Corporation to Host Earnings Call (4-traders.com)

Shares of Synalloy Corporation (NASDAQ SYNL) traded up 7.08% during trading on Friday, reaching $11.35. 25,460 shares of the company’s stock were exchanged. The stock’s market capitalization is $98.73 million. Synalloy Corporation has a 52 week low of $6.89 and a 52 week high of $13.75. The company’s 50-day moving average is $11.04 and its 200 day moving average is $11.62.

Synalloy Corporation (NASDAQ:SYNL) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $51.51 million for the quarter. Synalloy Corporation had a positive return on equity of 0.64% and a negative net margin of 1.54%. On average, analysts forecast that Synalloy Corporation will post $0.05 earnings per share for the current year.

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In other news, insider Fund Lp Privet purchased 19,280 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was acquired at an average price of $11.12 per share, with a total value of $214,393.60. Following the purchase, the insider now owns 49,086 shares in the company, valued at approximately $545,836.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

Synalloy Corporation Company Profile

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.