Steel & Tube operates in the New Zealand market, primarily in the construction, manufacturing and rural sectors. The company sees positive themes including lower interest rates, government-funded infrastructure projects, manufacturing sector expansion, and will benefit from a full year following the Perry Metal Protection acquisition and group-wide cost initiatives.
Cyborg Score Rationale
The stock shows negative technical signals from both short and long-term moving averages with the long-term average above the short-term average. The stock fell 4.42% on 27 February 2026 and is down 15.63% over the last 10 days. FY26 normalised EBITDA declined from $2.7m to $1.6m year-to-date.
Top Insights
Currently experiencing cyclical downturn with 4-month FY26 revenue at $145.2m (+2.4% vs FY25) but normalised EBITDA down 41% to $1.6m
Stock trading near 52-week lows with 35.71% decline, showing oversold RSI14 at 21 but persistent negative technical signals
Positioned to benefit from cyclical recovery themes: lower interest rates, government infrastructure spending, and manufacturing expansion
Perry Metal Protection acquisition performing ahead of forecast and benefiting from full-year contribution in FY26
Named Competitors
Steel Distribution — Smaller regional steel distributors in NZ
Recent Developments
(November 2025) Trading Update released; company confident in ability to capitalize on increasing demand as NZ economy improves
(February 2026) Stock price down 35.71% over 52-week period, currently trading around NZ$0.54
(FY25-26) Perry Metal Protection acquisition delivering ahead of forecast; group-wide cost initiatives implemented
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