BMO Capital Markets Lowers Ryerson Holding Corporation (RYI) Price Target to $10.00

Ryerson Holding Corporation (NYSE:RYI) had its target price cut by equities researchers at BMO Capital Markets to $10.00 in a research report issued to clients and investors on Monday. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target points to a potential upside of 16.28% from the company’s previous close.

A number of other research firms have also recently weighed in on RYI. Zacks Investment Research cut Ryerson Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 11th. KeyCorp restated a “buy” rating and issued a $13.50 price target on shares of Ryerson Holding Corporation in a research note on Tuesday, September 19th. BidaskClub cut Ryerson Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and issued a $9.75 price target on shares of Ryerson Holding Corporation in a research note on Friday, November 10th. Finally, TheStreet upgraded Ryerson Holding Corporation from a “d” rating to a “c” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.81.

Shares of Ryerson Holding Corporation (NYSE:RYI) opened at $8.60 on Monday. Ryerson Holding Corporation has a 52 week low of $7.65 and a 52 week high of $16.85. The company has a quick ratio of 1.08, a current ratio of 2.49 and a debt-to-equity ratio of -70.93. The stock has a market capitalization of $325.30, a price-to-earnings ratio of 31.79 and a beta of 2.08.

Ryerson Holding Corporation (NYSE:RYI) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.05. Ryerson Holding Corporation had a negative return on equity of 33.95% and a net margin of 0.26%. The company had revenue of $864.20 million for the quarter, compared to analysts’ expectations of $853.35 million. During the same period last year, the firm earned $0.28 earnings per share. Ryerson Holding Corporation’s quarterly revenue was up 17.6% on a year-over-year basis. analysts anticipate that Ryerson Holding Corporation will post 0.63 EPS for the current year.

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Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Ryerson Holding Corporation by 1.7% during the first quarter. Vanguard Group Inc. now owns 912,378 shares of the basic materials company’s stock worth $11,496,000 after buying an additional 15,628 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ryerson Holding Corporation 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 buying an additional 89,892 shares during the last quarter. Thrivent Financial For Lutherans purchased a new position in shares of Ryerson Holding Corporation during the second quarter worth about $2,754,000. ClariVest Asset Management LLC grew its holdings in shares of Ryerson Holding Corporation by 17.4% during the second quarter. ClariVest Asset Management LLC now owns 254,990 shares of the basic materials company’s stock worth $2,523,000 after buying an additional 37,823 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Ryerson Holding Corporation 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 buying an additional 226,172 shares during the last quarter. 40.28% of the stock is currently owned by institutional investors.

Ryerson Holding Corporation Company Profile

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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