Ryerson Holding Corp. (RYI) Receives $13.00 Average Target Price from Brokerages
Shares of Ryerson Holding Corp. (NYSE:RYI) have received a consensus rating of “Hold” from the six research firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.33.
A number of research analysts have recently commented on RYI shares. Zacks Investment Research upgraded shares of Ryerson Holding Corp. from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, October 12th. Deutsche Bank AG upgraded shares of Ryerson Holding Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday. Jefferies Group restated a “hold” rating on shares of Ryerson Holding Corp. in a research report on Wednesday. BMO Capital Markets boosted their price target on shares of Ryerson Holding Corp. from $10.00 to $13.00 and gave the company a “market perform” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th.
Shares of Ryerson Holding Corp. (NYSE:RYI) opened at 11.90 on Thursday. The company has a 50-day moving average price of $10.11 and a 200-day moving average price of $12.58. Ryerson Holding Corp. has a 12-month low of $2.53 and a 12-month high of $19.71. The firm has a market capitalization of $441.87 million, a P/E ratio of 57.77 and a beta of 2.27.
Ryerson Holding Corp. (NYSE:RYI) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $735.10 million for the quarter, compared to analysts’ expectations of $765.42 million. Ryerson Holding Corp. had a net margin of 0.24% and a negative return on equity of 20.28%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. Equities analysts predict that Ryerson Holding Corp. will post $1.22 EPS for the current year.
In related news, insider Kevin D. Richardson acquired 2,750 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $12.00 per share, with a total value of $33,000.00. Following the acquisition, the insider now owns 57,750 shares of the company’s stock, valued at approximately $693,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of RYI. Nantahala Capital Management LLC bought a new stake in Ryerson Holding Corp. during the first quarter worth about $2,242,000. Nordea Investment Management AB acquired a new stake in Ryerson Holding Corp. during the second quarter valued at $1,024,000. First Quadrant L P CA increased its stake in Ryerson Holding Corp. by 725.7% in the second quarter. First Quadrant L P CA now owns 28,900 shares of the company’s stock valued at $506,000 after buying an additional 25,400 shares in the last quarter. Bank of Montreal Can acquired a new stake in Ryerson Holding Corp. during the second quarter valued at $195,000. Finally, Smith Asset Management Group LP acquired a new stake in Ryerson Holding Corp. during the second quarter valued at $397,000. 29.43% of the stock is owned by institutional investors.
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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