Ryerson Holding Corp. (RYI) Upgraded by Zacks Investment Research to “Buy”
Ryerson Holding Corp. (NYSE:RYI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $11.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 17.15% from the stock’s current price.
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 brokerages also recently issued reports on RYI. Jefferies Group reiterated a “hold” rating on shares of Ryerson Holding Corp. in a research report on Saturday, October 1st. BMO Capital Markets increased their price target on Ryerson Holding Corp. from $10.00 to $13.00 and gave the stock a “market perform” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. increased their price target on Ryerson Holding Corp. from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.25.
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Ryerson Holding Corp. (NYSE:RYI) opened at 9.39 on Wednesday. The stock has a market cap of $348.36 million, a PE ratio of 57.96 and a beta of 2.21. Ryerson Holding Corp. has a one year low of $2.53 and a one year high of $19.71. The stock has a 50 day moving average price of $11.10 and a 200-day moving average price of $12.02.
Ryerson Holding Corp. (NYSE:RYI) last issued its earnings results on Wednesday, August 10th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Ryerson Holding Corp. had a negative return on equity of 14.34% and a net margin of 0.18%. Equities research analysts expect that Ryerson Holding Corp. will post $1.54 earnings per share for the current fiscal year.
In related news, insider Kevin D. Richardson purchased 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average price of $12.00 per share, with a total value of $33,000.00. Following the completion of the acquisition, the insider now owns 57,750 shares in the company, valued at $693,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward J. Lehner purchased 7,060 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was bought at an average cost of $12.00 per share, with a total value of $84,720.00. Following the acquisition, the chief executive officer now owns 79,060 shares of the company’s stock, valued at approximately $948,720. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Numeric Investors LLC bought a new stake in Ryerson Holding Corp. during the second quarter valued at approximately $5,790,000. AQR Capital Management LLC bought a new stake in Ryerson Holding Corp. during the second quarter valued at approximately $2,026,000. Guggenheim Capital LLC bought a new stake in Ryerson Holding Corp. during the second quarter valued at approximately $1,093,000. Parametric Portfolio Associates LLC boosted its stake in Ryerson Holding Corp. by 28.2% in the second quarter. Parametric Portfolio Associates LLC now owns 82,581 shares of the company’s stock valued at $1,445,000 after buying an additional 18,142 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Ryerson Holding Corp. during the second quarter valued at approximately $1,701,000. 29.13% of the stock is owned by hedge funds and other 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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