Ryerson Holding Corp. (RYI) Upgraded at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Ryerson Holding Corp. (NYSE:RYI) from a hold rating to a buy rating in a research note released on Wednesday. Deutsche Bank AG currently has $14.00 price objective on the stock.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Ryerson Holding Corp. from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Wednesday, October 12th. Jefferies Group restated a hold rating on shares of Ryerson Holding Corp. in a report on Wednesday, November 9th. BMO Capital Markets upped 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 report on Thursday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a neutral rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $12.60.
Ryerson Holding Corp. (NYSE:RYI) opened at 11.90 on Wednesday. Ryerson Holding Corp. has a 12-month low of $2.53 and a 12-month high of $19.71. The stock’s 50 day moving average is $10.11 and its 200-day moving average is $12.58. The company has a market cap of $441.87 million, a P/E ratio of 57.77 and a beta of 2.27.
Ryerson Holding Corp. (NYSE:RYI) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.06. The firm had revenue of $735.10 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Analysts predict that Ryerson Holding Corp. will post $1.22 earnings per share for the current fiscal year.
In other news, insider Kevin D. Richardson purchased 2,750 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were purchased at an average cost of $12.00 per share, with a total value of $33,000.00. Following the completion of the transaction, the insider now owns 57,750 shares of the company’s stock, valued at approximately $693,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Ryerson Holding Corp. by 3.4% in the second quarter. GSA Capital Partners LLP now owns 129,011 shares of the company’s stock valued at $2,258,000 after buying an additional 4,243 shares during the last quarter. EAM Investors LLC bought a new position in shares of Ryerson Holding Corp. during the second quarter valued at $2,213,000. Emerald Acquisition Ltd. bought a new position in shares of Ryerson Holding Corp. during the second quarter valued at $117,000. Bank of New York Mellon Corp raised its position in shares of Ryerson Holding Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 108,314 shares of the company’s stock valued at $1,896,000 after buying an additional 426 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Ryerson Holding Corp. during the second quarter valued at $1,024,000. 30.46% of the stock is currently owned by hedge funds and other 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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