Zacks Investment Research downgraded shares of Ryerson (NYSE:RYI) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “
Other research analysts also recently issued research reports about the stock. Deutsche Bank downgraded shares of Ryerson from a buy rating to a hold rating and set a $12.00 price objective for the company. in a research report on Monday, July 9th. ValuEngine upgraded shares of Ryerson from a hold rating to a buy rating in a research report on Monday, May 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Ryerson currently has a consensus rating of Hold and a consensus target price of $11.55.
Shares of Ryerson stock opened at $9.85 on Wednesday. The stock has a market capitalization of $425.17 million, a price-to-earnings ratio of 26.62 and a beta of 1.91. Ryerson has a fifty-two week low of $7.65 and a fifty-two week high of $12.95. The company has a debt-to-equity ratio of 48.25, a current ratio of 2.17 and a quick ratio of 0.99.
Ryerson (NYSE:RYI) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Ryerson had a net margin of 0.81% and a return on equity of 2,278.26%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 earnings per share. sell-side analysts predict that Ryerson will post 1.55 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in RYI. Jane Street Group LLC purchased a new stake in shares of Ryerson during the first quarter worth about $112,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ryerson during the first quarter worth about $142,000. Martingale Asset Management L P purchased a new stake in shares of Ryerson during the second quarter worth about $151,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ryerson during the first quarter worth about $152,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Ryerson during the fourth quarter worth about $169,000. 38.70% of the stock is owned by institutional investors and hedge funds.
Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural products, and tubing.
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