Ryerson (NYSE:RYI) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Ryerson (NYSE:RYI) from a sell rating to a hold rating in a report issued on Monday morning, ValuEngine reports.

RYI has been the topic of several other reports. Deutsche Bank set a $10.00 price objective on Ryerson and gave the stock a hold rating in a report on Thursday, July 11th. Zacks Investment Research upgraded Ryerson from a strong sell rating to a hold rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets reduced their price objective on Ryerson from $9.00 to $7.00 and set a market perform rating on the stock in a report on Monday, August 26th.

Shares of NYSE RYI opened at $9.47 on Monday. The business’s 50 day moving average price is $7.51 and its 200-day moving average price is $8.32. The company has a market cap of $361.18 million, a price-to-earnings ratio of 8.85 and a beta of 1.92. Ryerson has a fifty-two week low of $5.99 and a fifty-two week high of $11.89. The company has a debt-to-equity ratio of 8.94, a quick ratio of 1.06 and a current ratio of 2.46.

Ryerson (NYSE:RYI) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.32). The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Ryerson had a return on equity of 56.51% and a net margin of 2.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. Sell-side analysts predict that Ryerson will post 2.16 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its holdings in Ryerson by 111.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 1,778 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Ryerson during the 2nd quarter worth $50,000. UBS Asset Management Americas Inc. purchased a new position in Ryerson during the 2nd quarter worth $86,000. Aperio Group LLC purchased a new position in Ryerson during the 2nd quarter worth $108,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Ryerson during the 2nd quarter worth $132,000. Institutional investors own 35.65% of the company’s stock.

About Ryerson

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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