Ryerson (RYI) Rating Reiterated by Jefferies Group

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.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.05. Ryerson had a negative return on equity of 33.95% and a net margin of 0.26%. The firm had revenue of $864.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same quarter last year, the company posted $0.28 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. analysts expect that Ryerson will post 0.55 EPS for the current year.

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.

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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.

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