Zacks Investment Research upgraded shares of Ryerson Holding Corp. (NYSE:RYI) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $11.00 price target on the stock.
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 several other reports. BMO Capital Markets increased their price objective on Ryerson Holding Corp. from $10.00 to $13.00 and gave the company a market perform rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. increased their price objective on Ryerson Holding Corp. from $11.00 to $13.00 and gave the company a neutral rating in a research note on Thursday, August 11th. Finally, Jefferies Group reduced their price objective on 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $12.25.
Shares of Ryerson Holding Corp. (NYSE:RYI) opened at 9.43 on Wednesday. The firm has a market cap of $349.84 million, a PE ratio of 58.21 and a beta of 2.21. Ryerson Holding Corp. has a 12 month low of $2.53 and a 12 month high of $19.71. The firm’s 50-day moving average price is $10.87 and its 200-day moving average price is $12.01.
Ryerson Holding Corp. (NYSE:RYI) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Ryerson Holding Corp. had a negative return on equity of 14.34% and a net margin of 0.18%. Analysts expect that Ryerson Holding Corp. will post $1.54 earnings per share for the current year.
In other Ryerson Holding Corp. news, insider Kevin D. Richardson bought 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $12.00 per share, with a total value of $33,000.00. Following the completion of the acquisition, the insider now directly owns 57,750 shares of the company’s stock, valued at approximately $693,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Burbach bought 2,800 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was acquired at an average cost of $12.90 per share, for a total transaction of $36,120.00. Following the acquisition, the insider now directly owns 37,800 shares of the company’s stock, valued at $487,620. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of RYI. Emerald Acquisition Ltd. acquired a new position in Ryerson Holding Corp. during the second quarter valued at approximately $117,000. O Shaughnessy Asset Management LLC acquired a new position in Ryerson Holding Corp. during the second quarter valued at approximately $126,000. BlackRock Group LTD acquired a new position in Ryerson Holding Corp. during the second quarter valued at approximately $167,000. Bank of Montreal Can acquired a new position in Ryerson Holding Corp. during the second quarter valued at approximately $195,000. Finally, Rhumbline Advisers raised its position in Ryerson Holding Corp. by 1.1% in the second quarter. Rhumbline Advisers now owns 13,065 shares of the company’s stock valued at $229,000 after buying an additional 140 shares during the period. 29.13% of the stock is currently owned by hedge funds and other institutional investors.
Ryerson Holding Corp. Company Profile
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.