Jefferies Group Reiterates Hold Rating for Ryerson (RYI)
Jefferies Group reaffirmed their hold rating on shares of Ryerson (NYSE:RYI) in a report published on Tuesday morning. The brokerage currently has a $11.00 price objective on the basic materials company’s stock.
Several other brokerages have also recently weighed in on RYI. Zacks Investment Research raised shares of Ryerson from a sell rating to a hold rating in a report on Saturday, November 11th. KeyCorp reissued a buy rating and set a $13.50 price objective on shares of Ryerson in a report on Tuesday, September 19th. Finally, BMO Capital Markets cut their price objective on shares of Ryerson to $10.00 and set a market perform rating on the stock in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $11.50.
Shares of Ryerson (NYSE RYI) traded down $0.15 on Tuesday, hitting $10.60. 231,200 shares of the stock traded hands, compared to its average volume of 202,483. The firm has a market capitalization of $394.07, a PE ratio of 46.09 and a beta of 2.07. Ryerson has a 1-year low of $7.65 and a 1-year high of $14.65. The company has a debt-to-equity ratio of -70.93, a current ratio of 2.49 and a quick ratio of 1.08.
Ryerson (NYSE:RYI) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The business had revenue of $864.20 million for the quarter, compared to analysts’ expectations of $853.35 million. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. equities research analysts forecast that Ryerson will post 0.55 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Ryerson by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock worth $9,462,000 after acquiring an additional 89,892 shares during the last quarter. Thrivent Financial For Lutherans purchased a new position in shares of Ryerson during the second quarter worth approximately $2,754,000. Wells Fargo & Company MN grew its position in shares of Ryerson by 1,111.8% during the third quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock worth $2,674,000 after acquiring an additional 226,172 shares during the last quarter. State Street Corp grew its position in shares of Ryerson by 5.0% during the second quarter. State Street Corp now owns 213,745 shares of the basic materials company’s stock worth $2,119,000 after acquiring an additional 10,141 shares during the last quarter. Finally, Benefit Street Partners LLC grew its position in shares of Ryerson by 193.6% during the second quarter. Benefit Street Partners LLC now owns 200,000 shares of the basic materials company’s stock worth $1,980,000 after acquiring an additional 131,875 shares during the last quarter. Institutional investors and hedge funds own 39.28% of the company’s stock.
Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.
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