Deutsche Bank set a $10.00 price objective on Ryerson (NYSE:RYI) in a report published on Thursday, Stock Target Advisor reports. The brokerage currently has a hold rating on the basic materials company’s stock.
Several other analysts have also issued reports on RYI. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th.
NYSE:RYI opened at $8.06 on Thursday. The firm’s 50-day moving average is $7.90. Ryerson has a 52-week low of $5.99 and a 52-week high of $12.85. The company has a quick ratio of 1.01, a current ratio of 2.34 and a debt-to-equity ratio of 10.69. The company has a market capitalization of $296.23 million, a price-to-earnings ratio of 7.53 and a beta of 1.88.
Ryerson (NYSE:RYI) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.22. Ryerson had a return on equity of 76.79% and a net margin of 2.66%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. Ryerson’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities analysts anticipate that Ryerson will post 2.22 earnings per share for the current year.
In other Ryerson news, insider Michael Burbach acquired 4,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $8.49 per share, with a total value of $33,960.00. Following the completion of the purchase, the insider now directly owns 110,090 shares in the company, valued at approximately $934,664.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RYI. Municipal Employees Retirement System of Michigan bought a new position in shares of Ryerson in the fourth quarter worth about $963,000. Bank of New York Mellon Corp lifted its position in shares of Ryerson by 62.2% in the fourth quarter. Bank of New York Mellon Corp now owns 274,066 shares of the basic materials company’s stock worth $1,737,000 after buying an additional 105,046 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ryerson by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,295,114 shares of the basic materials company’s stock worth $8,211,000 after buying an additional 97,085 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Ryerson by 264.8% in the fourth quarter. New York State Common Retirement Fund now owns 64,561 shares of the basic materials company’s stock worth $409,000 after buying an additional 46,861 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Ryerson by 36.6% in the first quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock worth $1,206,000 after buying an additional 37,765 shares in the last quarter. 35.87% of the stock is owned by hedge funds and other institutional investors.
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, structurals, and tubing.
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