Gerdau (GGB) Upgraded to Hold by ValuEngine

Gerdau (NYSE:GGB) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also recently issued reports on GGB. Zacks Investment Research cut shares of Gerdau from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co raised shares of Gerdau from a “neutral” rating to an “overweight” rating in a research report on Friday, September 1st. Credit Suisse Group cut shares of Gerdau from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 7th. Finally, Santander raised shares of Gerdau from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.13.

Shares of Gerdau (NYSE GGB) traded up $0.07 during trading on Thursday, reaching $3.49. The company’s stock had a trading volume of 13,234,534 shares, compared to its average volume of 7,134,483. The firm has a market cap of $5,881.23, a P/E ratio of 20.12 and a beta of 2.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 1.89. Gerdau has a 52-week low of $2.60 and a 52-week high of $4.39.

Several hedge funds have recently added to or reduced their stakes in the company. Fairpointe Capital LLC lifted its position in Gerdau by 2.4% in the 2nd quarter. Fairpointe Capital LLC now owns 22,079,702 shares of the basic materials company’s stock valued at $67,344,000 after acquiring an additional 525,065 shares in the last quarter. BT Investment Management Ltd lifted its position in Gerdau by 8.9% in the 3rd quarter. BT Investment Management Ltd now owns 11,715,810 shares of the basic materials company’s stock valued at $40,185,000 after acquiring an additional 956,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Gerdau by 9.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,418,488 shares of the basic materials company’s stock valued at $34,826,000 after acquiring an additional 958,540 shares in the last quarter. Contrarian Capital Management L.L.C. lifted its position in Gerdau by 4.3% in the 3rd quarter. Contrarian Capital Management L.L.C. now owns 10,754,018 shares of the basic materials company’s stock valued at $36,886,000 after acquiring an additional 439,698 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Gerdau by 33.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,131,604 shares of the basic materials company’s stock valued at $30,865,000 after acquiring an additional 2,267,649 shares in the last quarter. 4.89% of the stock is currently owned by institutional investors.

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Gerdau Company Profile

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gerdau (NYSE:GGB)

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