Ryerson (NYSE:RYI)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a report issued on Tuesday. They presently have a $11.00 target price on the basic materials company’s stock. Jefferies Group’s price target would indicate a potential upside of 8.37% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. KeyCorp reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Ryerson in a report on Tuesday, September 19th. Zacks Investment Research raised Ryerson from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Ryerson in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Ryerson presently has an average rating of “Hold” and an average target price of $11.50.
Ryerson (RYI) opened at $10.15 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 1.08 and a debt-to-equity ratio of -70.93. Ryerson has a twelve month low of $7.65 and a twelve month high of $14.65. The stock has a market capitalization of $394.07, a PE ratio of 44.13 and a beta of 2.07.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP purchased a new stake in shares of Ryerson during the 3rd quarter worth approximately $134,000. Ameriprise Financial Inc. purchased a new stake in shares of Ryerson during the 2nd quarter worth approximately $138,000. Rhumbline Advisers boosted its stake in shares of Ryerson by 26.0% during the 2nd quarter. Rhumbline Advisers now owns 18,139 shares of the basic materials company’s stock worth $180,000 after acquiring an additional 3,740 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ryerson by 5.8% during the 2nd quarter. Wells Fargo & Company MN now owns 20,343 shares of the basic materials company’s stock worth $202,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Ryerson by 140.0% during the 2nd quarter. Alliancebernstein L.P. now owns 24,000 shares of the basic materials company’s stock worth $238,000 after acquiring an additional 14,000 shares in the last quarter. 39.28% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This article was originally posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://weekherald.com/2018/01/11/ryerson-ryi-rating-reiterated-by-jefferies-group.html.
Ryerson 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.
Receive News & Ratings for Ryerson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ryerson and related companies with MarketBeat.com's FREE daily email newsletter.