Schnitzer Steel Industries (NASDAQ:SCHN) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Saturday, October 21st. Morgan Stanley increased their target price on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Finally, Macquarie started coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.33.

Shares of Schnitzer Steel Industries (SCHN) traded up $0.65 during trading hours on Friday, reaching $29.50. The company had a trading volume of 160,458 shares, compared to its average volume of 256,284. Schnitzer Steel Industries has a 1 year low of $17.50 and a 1 year high of $31.35. The company has a market cap of $798.35, a P/E ratio of 18.86 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm had revenue of $494.00 million during the quarter, compared to the consensus estimate of $495.73 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. research analysts predict that Schnitzer Steel Industries will post 2.18 EPS for the current fiscal year.

In other Schnitzer Steel Industries news, VP Stefano R. Gaggini sold 1,074 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $28.97, for a total value of $31,113.78. Following the completion of the sale, the vice president now owns 16,480 shares in the company, valued at approximately $477,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter B. Saba sold 2,393 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $26.52, for a total value of $63,462.36. Following the completion of the sale, the senior vice president now owns 30,911 shares of the company’s stock, valued at approximately $819,759.72. The disclosure for this sale can be found here. Insiders sold a total of 22,770 shares of company stock valued at $654,919 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Algert Global LLC bought a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth approximately $377,000. Sterling Capital Management LLC bought a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth approximately $936,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth approximately $3,130,000. Royce & Associates LP lifted its position in shares of Schnitzer Steel Industries by 11.3% during the 3rd quarter. Royce & Associates LP now owns 377,705 shares of the basic materials company’s stock worth $10,632,000 after buying an additional 38,452 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth approximately $395,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

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About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.

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