Deutsche Bank upgraded shares of Ryerson (NYSE:RYI) from a hold rating to a buy rating in a research report report published on Monday, MarketBeat Ratings reports. They currently have $12.00 target price on the basic materials company’s stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Ryerson from a hold rating to a buy rating and set a $13.00 target price for the company in a research note on Thursday, August 9th. ValuEngine cut Ryerson from a hold rating to a sell rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Ryerson presently has a consensus rating of Hold and an average price target of $11.06.
RYI stock opened at $9.20 on Monday. The company has a market cap of $347.48 million, a P/E ratio of 24.86 and a beta of 1.93. Ryerson has a fifty-two week low of $7.85 and a fifty-two week high of $12.95. The company has a debt-to-equity ratio of 12.03, a current ratio of 2.45 and a quick ratio of 1.06.
Ryerson (NYSE:RYI) last posted its earnings results on Friday, November 2nd. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.07). The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Ryerson had a return on equity of 101.73% and a net margin of 2.60%. Ryerson’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. As a group, sell-side analysts anticipate that Ryerson will post 1.25 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of RYI. Spark Investment Management LLC lifted its stake in Ryerson by 593.9% in the second quarter. Spark Investment Management LLC now owns 215,800 shares of the basic materials company’s stock valued at $2,406,000 after buying an additional 184,700 shares during the last quarter. BlackRock Inc. lifted its stake in Ryerson by 12.9% in the second quarter. BlackRock Inc. now owns 1,379,843 shares of the basic materials company’s stock valued at $15,385,000 after buying an additional 158,104 shares during the last quarter. Towle & Co. lifted its stake in Ryerson by 7.0% in the second quarter. Towle & Co. now owns 2,188,513 shares of the basic materials company’s stock valued at $24,402,000 after buying an additional 143,738 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Ryerson by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,139,289 shares of the basic materials company’s stock valued at $12,703,000 after buying an additional 100,475 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Ryerson in the second quarter valued at approximately $903,000. Institutional investors own 37.43% of the company’s stock.
Ryerson Company Profile
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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