Ryerson Holding Corp. (RYI) Upgraded at Zacks Investment Research
Ryerson Holding Corp. (NYSE:RYI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $11.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 17.15% from the stock’s previous close.
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. “
RYI has been the topic of several other reports. Jefferies Group cut their price objective on shares of Ryerson Holding Corp. from $14.50 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, September 15th. BMO Capital Markets lifted their price objective on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the company a “market perform” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $12.25.
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Ryerson Holding Corp. (NYSE:RYI) opened at 9.39 on Wednesday. The company’s 50 day moving average is $11.10 and its 200 day moving average is $12.02. Ryerson Holding Corp. has a 52 week low of $2.53 and a 52 week high of $19.71. The stock has a market cap of $348.36 million, a P/E ratio of 57.96 and a beta of 2.21.
Ryerson Holding Corp. (NYSE:RYI) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Ryerson Holding Corp. had a net margin of 0.18% and a negative return on equity of 14.34%. Equities analysts predict that Ryerson Holding Corp. will post $1.54 earnings per share for the current year.
In other Ryerson Holding Corp. news, insider Kevin D. Richardson acquired 2,750 shares of the stock in a transaction dated Tuesday, August 16th. The shares were bought at an average price of $12.00 per share, with a total value of $33,000.00. Following the purchase, the insider now directly owns 57,750 shares of the company’s stock, valued at approximately $693,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Burbach acquired 2,800 shares of the stock in a transaction dated Friday, August 12th. The stock was acquired at an average cost of $12.90 per share, for a total transaction of $36,120.00. Following the purchase, the insider now directly owns 37,800 shares in the company, valued at $487,620. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Ryerson Holding Corp. by 1.1% in the second quarter. Rhumbline Advisers now owns 13,065 shares of the company’s stock valued at $229,000 after buying an additional 140 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ryerson Holding Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 108,314 shares of the company’s stock valued at $1,896,000 after buying an additional 426 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Ryerson Holding Corp. by 0.6% in the second quarter. BlackRock Fund Advisors now owns 284,261 shares of the company’s stock valued at $4,975,000 after buying an additional 1,632 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ryerson Holding Corp. by 3.4% in the first quarter. Geode Capital Management LLC now owns 71,362 shares of the company’s stock valued at $396,000 after buying an additional 2,333 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its position in shares of Ryerson Holding Corp. by 6.0% in the second quarter. BlackRock Investment Management LLC now owns 48,239 shares of the company’s stock valued at $844,000 after buying an additional 2,745 shares in the last quarter. 29.13% of the stock is currently owned by institutional investors.
Ryerson Holding Corp. Company Profile
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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