Zacks Investment Research upgraded shares of Ryerson (NYSE:RYI) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $12.00 price objective on the basic materials company’s stock.
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. “
A number of other research analysts have also recently weighed in on the company. ValuEngine cut Ryerson from a buy rating to a hold rating in a research report on Saturday, June 2nd. Deutsche Bank cut Ryerson from a buy rating to a hold rating and set a $12.00 price objective on the stock. in a research report on Monday, July 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $11.55.
Ryerson stock opened at $9.85 on Thursday. The stock has a market cap of $425.17 million, a price-to-earnings ratio of 26.62 and a beta of 1.91. Ryerson has a 52-week low of $7.65 and a 52-week high of $12.95. The company has a quick ratio of 0.99, a current ratio of 2.17 and a debt-to-equity ratio of 48.25.
Ryerson (NYSE:RYI) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 2,278.26% and a net margin of 0.81%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. sell-side analysts expect that Ryerson will post 1.55 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in Ryerson by 3.9% in the 2nd quarter. GSA Capital Partners LLP now owns 130,327 shares of the basic materials company’s stock worth $1,453,000 after purchasing an additional 4,939 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Ryerson by 18.9% in the 1st quarter. Prudential Financial Inc. now owns 31,770 shares of the basic materials company’s stock worth $259,000 after purchasing an additional 5,060 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Ryerson by 17.3% in the 1st quarter. Citadel Advisors LLC now owns 41,214 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 6,074 shares in the last quarter. Northern Trust Corp lifted its holdings in Ryerson by 4.0% in the 1st quarter. Northern Trust Corp now owns 171,654 shares of the basic materials company’s stock worth $1,399,000 after purchasing an additional 6,529 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Ryerson by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 50,140 shares of the basic materials company’s stock worth $559,000 after purchasing an additional 6,867 shares in the last quarter. 38.70% of the stock is currently owned by hedge funds and other institutional investors.
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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