Zacks Investment Research upgraded shares of Ryerson (NYSE:RYI) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $7.75 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 have also weighed in on the company. Deutsche Bank upgraded Ryerson from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Monday, November 5th. ValuEngine upgraded Ryerson from a strong sell rating to a sell rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $10.00.
Shares of Ryerson stock opened at $6.93 on Wednesday. Ryerson has a one year low of $5.99 and a one year high of $12.95. The firm has a market capitalization of $262.11 million, a P/E ratio of 18.73 and a beta of 1.99. The company has a current ratio of 2.45, a quick ratio of 1.06 and a debt-to-equity ratio of 12.03.
Ryerson (NYSE:RYI) last announced its earnings results on Friday, November 2nd. The basic materials company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). Ryerson had a return on equity of 101.73% and a net margin of 2.60%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Ryerson’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, analysts forecast that Ryerson will post 1.2 earnings per share for the current year.
In other Ryerson news, CEO Edward J. Lehner purchased 4,125 shares of the stock in a transaction on Tuesday, November 20th. The shares were bought at an average cost of $8.10 per share, with a total value of $33,412.50. Following the completion of the acquisition, the chief executive officer now owns 215,439 shares in the company, valued at $1,745,055.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 13,625 shares of company stock worth $113,158 over the last three months. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Jefferies Group LLC acquired a new position in shares of Ryerson during the 3rd quarter worth about $162,000. Wakefield Asset Management LLLP acquired a new stake in Ryerson in the 3rd quarter valued at about $222,000. O Shaughnessy Asset Management LLC raised its holdings in Ryerson by 59.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 20,986 shares of the basic materials company’s stock valued at $237,000 after acquiring an additional 7,850 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Ryerson in the 3rd quarter valued at approximately $322,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ryerson in the 3rd quarter valued at approximately $341,000. Institutional investors and hedge funds own 36.83% of the company’s stock.
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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