Jefferies Group Cuts Ryerson Holding Corp. (RYI) Price Target to $12.00
Ryerson Holding Corp. (NYSE:RYI) had its price target lowered by Jefferies Group from $14.50 to $12.00 in a research note released on Thursday. Jefferies Group currently has a hold rating on the stock.
Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Ryerson Holding Corp. from $11.00 to $13.00 and gave the stock a neutral rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research cut shares of Ryerson Holding Corp. from a buy rating to a hold rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $11.50.
Ryerson Holding Corp. (NYSE:RYI) opened at 10.38 on Thursday. Ryerson Holding Corp. has a 1-year low of $2.53 and a 1-year high of $19.71. The stock has a market cap of $385.09 million, a P/E ratio of 64.07 and a beta of 2.19. The firm’s 50-day moving average is $12.28 and its 200-day moving average is $11.46.
Ryerson Holding Corp. (NYSE:RYI) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%. On average, analysts forecast that Ryerson Holding Corp. will post $1.56 EPS for the current year.
In related news, insider Michael Burbach purchased 2,800 shares of the firm’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 completion of the acquisition, the insider now owns 37,800 shares in the company, valued at approximately $487,620. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin D. Richardson purchased 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought 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 owns 57,750 shares of the company’s stock, valued at approximately $693,000. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 in the last quarter. Spark Investment Management LLC boosted its stake in 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 in the last quarter. Nantahala Capital Management LLC bought a new stake in Ryerson Holding Corp. during the first quarter valued at approximately $2,242,000. Finally, Numeric Investors LLC bought a new stake in Ryerson Holding Corp. during the second quarter valued at approximately $5,790,000. Institutional investors and hedge funds 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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