BMO Capital Markets Reaffirms “Hold” Rating for Ryerson Holding Corporation (RYI)
Ryerson Holding Corporation (NYSE:RYI)‘s stock had its “hold” rating reissued by analysts at BMO Capital Markets in a research report issued on Friday. They currently have a $13.00 price objective on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 45.25% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. KeyCorp reiterated a “buy” rating and set a $13.50 price objective on shares of Ryerson Holding Corporation in a report on Tuesday, September 19th. TheStreet upgraded Ryerson Holding Corporation from a “d” rating to a “c” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “hold” rating and set a $9.25 price objective on shares of Ryerson Holding Corporation in a report on Thursday, September 7th. Zacks Investment Research cut Ryerson Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 11th. Finally, BidaskClub cut Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Ryerson Holding Corporation presently has an average rating of “Hold” and an average price target of $13.44.
Shares of Ryerson Holding Corporation (NYSE:RYI) traded up 1.13% during trading on Friday, hitting $8.95. The stock had a trading volume of 150,266 shares. The firm has a 50 day moving average of $9.39 and a 200 day moving average of $9.72. Ryerson Holding Corporation has a 1-year low of $7.65 and a 1-year high of $16.85. The company has a market capitalization of $332.73 million, a price-to-earnings ratio of 22.21 and a beta of 2.20.
Ryerson Holding Corporation (NYSE:RYI) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.05). Ryerson Holding Corporation had a net margin of 0.48% and a negative return on equity of 53.49%. The business had revenue of $875.40 million for the quarter, compared to the consensus estimate of $875.13 million. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts expect that Ryerson Holding Corporation will post $0.60 EPS for the current fiscal year.
In other news, insider Michael Burbach bought 4,800 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $8.50 per share, with a total value of $40,800.00. Following the transaction, the insider now owns 57,800 shares in the company, valued at $491,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 15,950 shares of company stock worth $130,716. 0.76% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in RYI. Thrivent Financial For Lutherans acquired a new stake in Ryerson Holding Corporation in the 2nd quarter valued at approximately $2,754,000. Dimensional Fund Advisors LP raised its position in Ryerson Holding Corporation by 42.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 782,418 shares of the basic materials company’s stock valued at $7,745,000 after buying an additional 234,747 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Ryerson Holding Corporation in the 2nd quarter valued at approximately $1,648,000. James Investment Research Inc. acquired a new stake in Ryerson Holding Corporation in the 2nd quarter valued at approximately $1,529,000. Finally, Marshall Wace North America L.P. acquired a new stake in Ryerson Holding Corporation in the 2nd quarter valued at approximately $1,476,000. 41.44% of the stock is currently owned by institutional investors and hedge funds.
Ryerson Holding Corporation 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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