Real Industry’s (RELY) Buy Rating Reaffirmed at B. Riley
B. Riley reiterated their buy rating on shares of Real Industry, Inc. (NASDAQ:RELY) in a research note issued to investors on Thursday. The brokerage currently has a $5.00 price target on the financial services provider’s stock. B. Riley also issued estimates for Real Industry’s Q1 2018 earnings at ($0.27) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.10) EPS and Q4 2018 earnings at ($0.25) EPS.
Separately, Zacks Investment Research cut shares of Real Industry from a buy rating to a hold rating in a research report on Wednesday, October 11th.
Real Industry (NASDAQ:RELY) traded down $1.05 during trading hours on Thursday, reaching $0.65. 14,493,031 shares of the company were exchanged, compared to its average volume of 327,308. Real Industry has a 12 month low of $0.25 and a 12 month high of $6.70. The company has a debt-to-equity ratio of 17.43, a current ratio of 1.75 and a quick ratio of 1.08.
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Several hedge funds and other institutional investors have recently bought and sold shares of RELY. Bank of New York Mellon Corp raised its holdings in shares of Real Industry by 19.6% in the first quarter. Bank of New York Mellon Corp now owns 89,852 shares of the financial services provider’s stock worth $256,000 after buying an additional 14,747 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Real Industry by 38.1% in the first quarter. Dimensional Fund Advisors LP now owns 397,910 shares of the financial services provider’s stock worth $1,134,000 after buying an additional 109,824 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Real Industry by 38.8% in the second quarter. Russell Investments Group Ltd. now owns 612,859 shares of the financial services provider’s stock worth $1,776,000 after buying an additional 171,368 shares during the last quarter. Boston Partners raised its holdings in shares of Real Industry by 2.8% in the second quarter. Boston Partners now owns 1,573,646 shares of the financial services provider’s stock worth $4,564,000 after buying an additional 42,474 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of Real Industry in the second quarter worth $239,000. 58.27% of the stock is owned by institutional investors and hedge funds.
About Real Industry
Real Industry, Inc is a holding company. The Company focuses on the operations of Real Alloy Holding, Inc (Real Alloy), which is engaged in aluminum recycling. The Company’s segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU). The RANA segment includes aluminum melting, processing, recycling and alloying activities conducted in approximately 20 facilities located in the United States, Canada and Mexico.
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