ValuEngine Upgrades Ryerson (RYI) to Buy

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

RYI has been the subject of several other research reports. Zacks Investment Research lowered Ryerson from a hold rating to a sell rating in a research report on Tuesday, January 30th. Jefferies Group reiterated a hold rating and issued a $10.25 price target on shares of Ryerson in a research report on Tuesday, March 6th. Deutsche Bank dropped their price target on Ryerson from $15.00 to $13.00 and set a buy rating for the company in a research report on Thursday, March 29th. Finally, TheStreet upgraded Ryerson from a d+ rating to a c- rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Ryerson currently has a consensus rating of Hold and an average target price of $11.69.

Ryerson opened at $12.15 on Monday, according to MarketBeat.com. The stock has a market capitalization of $441.96 million, a P/E ratio of 32.84 and a beta of 1.86. Ryerson has a 12 month low of $11.50 and a 12 month high of $11.70. The company has a quick ratio of 1.03, a current ratio of 2.22 and a debt-to-equity ratio of 193.12.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $941.30 million during the quarter, compared to analyst estimates of $938.95 million. Ryerson had a negative return on equity of 95.92% and a net margin of 0.36%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. analysts anticipate that Ryerson will post 1.5 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Chicago Equity Partners LLC boosted its position in shares of Ryerson by 24.2% during the fourth quarter. Chicago Equity Partners LLC now owns 138,920 shares of the basic materials company’s stock valued at $1,445,000 after buying an additional 27,095 shares during the period. California Public Employees Retirement System boosted its position in shares of Ryerson by 42.1% during the fourth quarter. California Public Employees Retirement System now owns 118,059 shares of the basic materials company’s stock valued at $1,228,000 after buying an additional 35,000 shares during the period. Luminus Management LLC purchased a new position in shares of Ryerson during the fourth quarter valued at approximately $16,162,000. Victory Capital Management Inc. boosted its position in shares of Ryerson by 18.8% during the fourth quarter. Victory Capital Management Inc. now owns 147,350 shares of the basic materials company’s stock valued at $1,532,000 after buying an additional 23,269 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in shares of Ryerson during the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 39.36% of the company’s stock.

Ryerson Company Profile

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, structural products, and tubing.

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

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