BMO Capital Markets Reiterates “Hold” Rating for Ryerson Holding Corp (RYI)
Ryerson Holding Corp (NYSE:RYI)‘s stock had its “hold” rating reiterated by equities researchers at BMO Capital Markets in a research note issued on Thursday. They currently have a $13.00 target price on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 6.56% from the stock’s previous close.
A number of other research firms also recently commented on RYI. Zacks Investment Research upgraded shares of Ryerson Holding Corp from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, January 5th. KeyCorp upgraded shares of Ryerson Holding Corp from a “sector weight” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Monday, January 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.33.
Shares of Ryerson Holding Corp (NYSE:RYI) opened at 12.20 on Thursday. The company’s 50-day moving average price is $11.59 and its 200-day moving average price is $11.89. The firm has a market cap of $453.01 million, a PE ratio of 22.59 and a beta of 2.41. Ryerson Holding Corp has a 52-week low of $7.12 and a 52-week high of $19.71.
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Ryerson Holding Corp (NYSE:RYI) last posted its quarterly earnings data on Monday, March 13th. The basic materials company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.09. Ryerson Holding Corp had a negative return on equity of 20.28% and a net margin of 0.24%. The business had revenue of $682.20 million for the quarter, compared to analyst estimates of $692.88 million. During the same quarter in the prior year, the company earned ($0.46) earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Ryerson Holding Corp will post $1.48 earnings per share for the current fiscal year.
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In other news, Director Stephen P. Larson bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 28th. The stock was acquired at an average cost of $10.76 per share, for a total transaction of $107,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $215,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.
A number of large investors have recently modified their holdings of RYI. Emerald Acquisition Ltd. acquired a new position in shares of Ryerson Holding Corp during the second quarter valued at $117,000. Trexquant Investment LP acquired a new position in shares of Ryerson Holding Corp during the fourth quarter valued at $143,000. USA Financial Portformulas Corp acquired a new position in shares of Ryerson Holding Corp during the third quarter valued at $155,000. Marshall Wace LLP acquired a new position in shares of Ryerson Holding Corp during the fourth quarter valued at $160,000. Finally, Acrospire Investment Management LLC acquired a new position in shares of Ryerson Holding Corp during the first quarter valued at $163,000. Institutional investors and hedge funds own 36.90% of the company’s stock.
Ryerson Holding Corp Company Profile
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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