Shares of Gerdau SA (NYSE:GGB) have earned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.00.
A number of equities analysts have recently commented on the company. ValuEngine downgraded Gerdau from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Goldman Sachs Group restated a “buy” rating on shares of Gerdau in a report on Monday, October 23rd. Bank of America upgraded Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Monday, November 27th. Credit Suisse Group upgraded Gerdau from a “neutral” rating to an “outperform” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Tuesday, January 23rd.
Hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. acquired a new stake in shares of Gerdau in the fourth quarter valued at about $149,000. Verde Servicos Internacionais S.A. grew its stake in shares of Gerdau by 82.5% in the fourth quarter. Verde Servicos Internacionais S.A. now owns 51,100 shares of the basic materials company’s stock valued at $190,000 after buying an additional 23,100 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Gerdau by 820.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 61,391 shares of the basic materials company’s stock valued at $229,000 after buying an additional 54,722 shares in the last quarter. Virtu KCG Holdings LLC grew its stake in shares of Gerdau by 83.7% in the second quarter. Virtu KCG Holdings LLC now owns 87,425 shares of the basic materials company’s stock valued at $267,000 after buying an additional 39,840 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Gerdau in the third quarter valued at about $354,000. Institutional investors and hedge funds own 4.74% of the company’s stock.
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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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