Zacks Investment Research upgraded shares of Ryerson (NYSE:RYI) from a hold rating to a buy rating in a report released on Thursday. They currently have $13.00 price target 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 also recently weighed in on RYI. ValuEngine raised Ryerson from a strong sell rating to a sell rating in a research note on Wednesday, May 2nd. Deutsche Bank downgraded Ryerson from a buy rating to a hold rating and set a $12.00 price objective for the company. in a research note on Monday, July 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $11.75.
Shares of Ryerson traded down $0.40, reaching $11.40, during midday trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 240,797 shares, compared to its average volume of 209,098. The company has a market capitalization of $440.09 million, a price-to-earnings ratio of 30.81 and a beta of 1.91. 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 has a fifty-two week low of $7.65 and a fifty-two week high of $12.95.
Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Ryerson had a return on equity of 2,278.26% and a net margin of 0.81%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue was up 20.8% compared to the same quarter last year. analysts anticipate that Ryerson will post 1.55 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. Towle & Co. grew its holdings in shares of 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 acquiring an additional 143,738 shares in the last quarter. BlackRock Inc. grew its holdings in Ryerson by 12.9% during the second quarter. BlackRock Inc. now owns 1,379,843 shares of the basic materials company’s stock valued at $15,385,000 after purchasing an additional 158,104 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ryerson by 9.7% during 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 purchasing an additional 100,475 shares during the period. Penn Capital Management Co. Inc. bought a new position in Ryerson during the first quarter valued at $3,763,000. Finally, Wells Fargo & Company MN grew its holdings in Ryerson by 5.6% during the first quarter. Wells Fargo & Company MN now owns 390,144 shares of the basic materials company’s stock valued at $3,180,000 after purchasing an additional 20,644 shares during the period. 39.46% of the stock is owned by hedge funds and other institutional investors.
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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