Ryerson Holding Corp. (RYI) Upgraded at Zacks Investment Research
Ryerson Holding Corp. (NYSE:RYI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $11.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 17.15% from the stock’s current price.
According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “
RYI has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Jefferies Group dropped their price target on shares of Ryerson Holding Corp. from $14.50 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, September 15th. Finally, BMO Capital Markets boosted their price target on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the stock a “market perform” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.25.
Ryerson Holding Corp. (NYSE:RYI) opened at 9.39 on Wednesday. The stock has a market capitalization of $348.36 million, a price-to-earnings ratio of 57.96 and a beta of 2.21. The firm has a 50-day moving average of $11.10 and a 200-day moving average of $12.02. Ryerson Holding Corp. has a 1-year low of $2.53 and a 1-year high of $19.71.
Ryerson Holding Corp. (NYSE:RYI) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Ryerson Holding Corp. had a net margin of 0.18% and a negative return on equity of 14.34%. Equities research analysts anticipate that Ryerson Holding Corp. will post $1.54 EPS for the current year.
In related news, CEO Edward J. Lehner bought 7,060 shares of the stock in a transaction on Friday, August 12th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $84,720.00. Following the completion of the transaction, the chief executive officer now owns 79,060 shares of the company’s stock, valued at approximately $948,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin D. Richardson bought 2,750 shares of the stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $12.00 per share, for a total transaction of $33,000.00. Following the completion of the transaction, the insider now directly owns 57,750 shares of the company’s stock, valued at approximately $693,000. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of RYI. Vanguard Group Inc. raised its position in shares of Ryerson Holding Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 865,791 shares of the company’s stock valued at $15,151,000 after buying an additional 14,939 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ryerson Holding Corp. by 512,018.1% in the second quarter. JPMorgan Chase & Co. now owns 850,116 shares of the company’s stock valued at $14,878,000 after buying an additional 849,950 shares during the last quarter. Spark Investment Management LLC raised its position in shares of Ryerson Holding Corp. by 106.9% in the first quarter. Spark Investment Management LLC now owns 516,300 shares of the company’s stock valued at $2,870,000 after buying an additional 266,800 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of Ryerson Holding Corp. during the first quarter valued at $2,242,000. Finally, Numeric Investors LLC bought a new position in shares of Ryerson Holding Corp. during the second quarter valued at $5,790,000. Institutional investors own 29.13% of the company’s stock.
About Ryerson Holding Corp.
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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