Ryerson (NYSE:RYI) was upgraded by stock analysts at Deutsche Bank to a “buy” rating in a research note issued on Monday. The firm presently has a $12.00 price objective on the basic materials company’s stock. Deutsche Bank’s price target would indicate a potential upside of 39.70% from the company’s current price.
Several other analysts have also commented on RYI. Zacks Investment Research lowered Ryerson from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. ValuEngine lowered Ryerson from a “hold” rating to a “sell” rating in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Ryerson has an average rating of “Hold” and an average price target of $11.06.
Shares of NYSE RYI opened at $8.59 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.06 and a debt-to-equity ratio of 12.03. The firm has a market cap of $320.37 million, a price-to-earnings ratio of 23.22 and a beta of 1.93. Ryerson has a 12-month low of $7.85 and a 12-month high of $12.95.
Ryerson (NYSE:RYI) last announced its earnings results on Friday, November 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Ryerson had a net margin of 2.60% and a return on equity of 101.73%. The firm’s revenue was up 44.6% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, equities research analysts expect that Ryerson will post 1.43 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of RYI. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ryerson by 141.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 62,225 shares of the basic materials company’s stock valued at $508,000 after purchasing an additional 36,425 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Ryerson by 4.0% during the 1st quarter. Northern Trust Corp now owns 171,654 shares of the basic materials company’s stock valued at $1,399,000 after purchasing an additional 6,529 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ryerson by 7.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,038,814 shares of the basic materials company’s stock valued at $8,466,000 after purchasing an additional 68,473 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Ryerson during the 1st quarter valued at $611,000. Finally, Jane Street Group LLC purchased a new position in Ryerson in the 1st quarter worth $112,000. Hedge funds and other institutional investors own 37.43% of the company’s stock.
Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural products, and tubing.
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