Gerdau SA (NYSE:GGB) has received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.00.
A number of research firms have weighed in on GGB. ValuEngine downgraded Gerdau from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Gerdau in a research report on Monday, October 23rd. Bank of America raised Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Monday, November 27th. Finally, Zacks Investment Research raised Gerdau from a “sell” rating to a “hold” rating in a research report on Monday.
Shares of Gerdau (GGB) traded down $0.03 on Friday, hitting $4.42. The company had a trading volume of 14,256,984 shares, compared to its average volume of 16,714,215. Gerdau has a 1-year low of $2.60 and a 1-year high of $4.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.89 and a quick ratio of 1.16. The firm has a market cap of $7,380.00, a price-to-earnings ratio of -11.95 and a beta of 2.27.
A number of large investors have recently added to or reduced their stakes in GGB. Advisors Asset Management Inc. boosted its holdings in shares of Gerdau by 22.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 106,823 shares of the basic materials company’s stock valued at $366,000 after buying an additional 19,259 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Gerdau by 108.5% in the 2nd quarter. Lazard Asset Management LLC now owns 41,700 shares of the basic materials company’s stock valued at $127,000 after buying an additional 21,700 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Gerdau by 2.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,157,330 shares of the basic materials company’s stock valued at $3,970,000 after buying an additional 30,560 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Gerdau in the 2nd quarter valued at approximately $104,000. Finally, Northern Trust Corp boosted its holdings in shares of Gerdau by 5.1% in the 2nd quarter. Northern Trust Corp now owns 780,624 shares of the basic materials company’s stock valued at $2,381,000 after buying an additional 37,945 shares during the last quarter. 4.88% of the stock is owned by hedge funds and other 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.
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