Ryerson Holding Corporation (RYI) Given Average Recommendation of “Hold” by Analysts
Ryerson Holding Corporation (NYSE:RYI) has received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.44.
Several equities analysts recently issued reports on the company. TheStreet upgraded Ryerson Holding Corporation from a “d” rating to a “c” rating in a report on Monday, August 7th. BidaskClub cut Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. BMO Capital Markets reiterated a “hold” rating and issued a $13.00 price target on shares of Ryerson Holding Corporation in a report on Friday, October 20th. Zacks Investment Research cut Ryerson Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $9.25 price target on shares of Ryerson Holding Corporation in a report on Thursday, September 7th.
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.
Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP acquired a new position in shares of Ryerson Holding Corporation during the 3rd quarter worth approximately $134,000. Trellus Management Company LLC bought a new stake in shares of Ryerson Holding Corporation during the 2nd quarter valued at $138,000. Ameriprise Financial Inc. bought a new stake in shares of Ryerson Holding Corporation during the 2nd quarter valued at $138,000. HighTower Advisors LLC bought a new stake in shares of Ryerson Holding Corporation during the 1st quarter valued at $192,000. Finally, Rhumbline Advisers lifted its position in shares of Ryerson Holding Corporation by 26.0% during the 2nd quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock valued at $180,000 after acquiring an additional 3,740 shares during the period. 40.83% of the stock is currently owned by institutional investors and hedge funds.
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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Ryerson Holding Corporation had a negative return on equity of 53.49% and a net margin of 0.48%. The company had revenue of $875.40 million for the quarter, compared to analyst estimates of $875.13 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year.
About Ryerson Holding Corporation
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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