Gerdau S.A. Upgraded to “Buy” at Jefferson Research (GGB)
Gerdau S.A. (NYSE:GGB) was upgraded by equities researchers at Jefferson Research from a “hold” rating to a “buy” rating in a research report issued on Friday, American Banking & Market News reports.
GGB has been the subject of a number of other recent research reports. Analysts at Credit Suisse downgraded shares of Gerdau S.A. from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 25th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Gerdau S.A. in a research note to investors on Thursday, November 14th. They now have a $8.25 price target on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Gerdau S.A. to a “neutral” rating in a research note to investors on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Gerdau S.A. presently has an average rating of “Buy” and a consensus price target of $8.25.
Gerdau S.A. (NYSE:GGB) traded up 2.40% during mid-day trading on Friday, hitting $7.67. 5,536,919 shares of the company’s stock traded hands. Gerdau S.A. has a one year low of $5.27 and a one year high of $9.15. The stock has a 50-day moving average of $7.76 and a 200-day moving average of $7.27. The company has a market cap of $13.046 billion and a price-to-earnings ratio of 20.52.
Gerdau SA (NYSE:GGB) is a producer of long rolled steel.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.