Gerdau (NYSE:GGB) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Friday, The Fly reports.

A number of other equities analysts also recently issued reports on the stock. TheStreet upgraded shares of Gerdau from a “c+” rating to a “b-” rating in a report on Thursday, December 12th. Scotiabank downgraded shares of Gerdau from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday. ValuEngine downgraded shares of Gerdau from a “hold” rating to a “sell” rating in a report on Monday, December 30th. Finally, Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Saturday, January 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Gerdau presently has an average rating of “Hold” and a consensus target price of $5.75.

Shares of GGB stock traded down $0.01 during mid-day trading on Friday, hitting $5.30. The stock had a trading volume of 231,639 shares, compared to its average volume of 9,588,268. Gerdau has a fifty-two week low of $2.73 and a fifty-two week high of $5.32. The firm has a market cap of $8.93 billion, a PE ratio of 23.04, a PEG ratio of 4.20 and a beta of 1.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.13 and a quick ratio of 1.03. The company’s 50-day simple moving average is $4.76 and its 200-day simple moving average is $3.73.

Gerdau (NYSE:GGB) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.49 billion. Gerdau had a net margin of 3.64% and a return on equity of 5.77%. On average, analysts expect that Gerdau will post 0.2 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in shares of Gerdau by 94.8% in the 2nd quarter. Jane Street Group LLC now owns 262,375 shares of the basic materials company’s stock valued at $1,020,000 after purchasing an additional 127,683 shares in the last quarter. Wetherby Asset Management Inc. purchased a new position in Gerdau during the 3rd quarter valued at about $74,000. Squarepoint Ops LLC purchased a new position in Gerdau during the 3rd quarter valued at about $313,000. Millennium Management LLC purchased a new position in Gerdau during the 3rd quarter valued at about $132,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Gerdau by 126.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 123,600 shares of the basic materials company’s stock valued at $389,000 after acquiring an additional 69,100 shares in the last quarter. Institutional investors and hedge funds own 9.49% of the company’s stock.

Gerdau Company Profile

Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.

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