ValuEngine Upgrades Ryerson (NYSE:RYI) to “Sell”

Ryerson (NYSE:RYI) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday, ValuEngine reports.

Several other brokerages have also weighed in on RYI. Deutsche Bank set a $10.00 target price on Ryerson and gave the stock a “hold” rating in a research report on Thursday, July 11th. BMO Capital Markets dropped their target price on Ryerson from $9.00 to $7.00 and set a “market perform” rating on the stock in a research report on Monday, August 26th. Finally, Zacks Investment Research lowered Ryerson from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 10th.

Shares of Ryerson stock traded up $0.09 on Tuesday, hitting $9.19. 9,226 shares of the company’s stock traded hands, compared to its average volume of 151,580. The stock has a market cap of $290.56 million, a P/E ratio of 8.60 and a beta of 1.92. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 8.94. The firm’s 50-day moving average is $7.34 and its 200 day moving average is $8.28. Ryerson has a 52-week low of $5.99 and a 52-week high of $11.89.

Ryerson (NYSE:RYI) last released its earnings results on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.32). Ryerson had a net margin of 2.56% and a return on equity of 56.51%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts forecast that Ryerson will post 2.16 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of RYI. Prudential Financial Inc. increased its holdings in shares of Ryerson by 120.1% during the second quarter. Prudential Financial Inc. now owns 497,166 shares of the basic materials company’s stock valued at $4,141,000 after purchasing an additional 271,322 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Ryerson during the second quarter valued at $2,133,000. BlackRock Inc. increased its holdings in shares of Ryerson by 8.3% during the second quarter. BlackRock Inc. now owns 1,820,395 shares of the basic materials company’s stock valued at $15,165,000 after purchasing an additional 138,921 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ryerson by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock valued at $8,211,000 after purchasing an additional 97,085 shares during the period. Finally, Alambic Investment Management L.P. acquired a new position in shares of Ryerson during the second quarter valued at $791,000. 35.65% of the stock is currently owned by hedge funds and other institutional investors.

About Ryerson

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, structurals, and tubing.

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