Ryerson Holding Corp. (RYI) Shares Down 14.5%
Ryerson Holding Corp. (NYSE:RYI) shares traded down 14.5% during trading on Tuesday . The stock traded as low as $16.30 and last traded at $16.59, with a volume of 1,141,547 shares. The stock had previously closed at $19.40.
Several research analysts have recently commented on the company. Jefferies Group reiterated a “hold” rating and issued a $14.50 price objective (up previously from $10.00) on shares of Ryerson Holding Corp. in a report on Friday, June 10th. Zacks Investment Research upgraded Ryerson Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a report on Friday, May 13th. Finally, JPMorgan Chase & Co. boosted their price target on Ryerson Holding Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.25.
The stock’s 50-day moving average price is $16.28 and its 200 day moving average price is $8.62. The firm has a market cap of $463.19 million and a P/E ratio of 30.0627.
Ryerson Holding Corp. (NYSE:RYI) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.03 by $0.23. The company had revenue of $702.60 million for the quarter, compared to the consensus estimate of $717.57 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue for the quarter was down 19.1% on a year-over-year basis. Analysts forecast that Ryerson Holding Corp. will post $1.34 earnings per share for the current year.
An institutional investor recently raised its position in Ryerson Holding Corp. stock. Towle & Co. increased its stake in shares of Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,646,655 shares of the company’s stock after buying an additional 874,902 shares during the period. Ryerson Holding Corp. makes up 2.7% of Towle & Co.’s portfolio, making the stock its 20th largest position. Towle & Co. owned 8.25% of Ryerson Holding Corp. worth $12,360,000 as of its most recent SEC filing.
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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