Ryerson Holding Corp. (RYI) Sees Large Volume Increase
Ryerson Holding Corp. (NYSE:RYI) saw unusually-high trading volume on Wednesday . Approximately 5,712,662 shares traded hands during mid-day trading, an increase of 599% from the previous session’s volume of 817,741 shares.The stock last traded at $14.50 and had previously closed at $16.26.
RYI has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Ryerson Holding Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, April 19th. Jefferies Group upped their price target on Ryerson Holding Corp. from $4.75 to $10.00 and gave the company a “hold” rating in a research report on Monday, May 9th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.25.
The company’s 50-day moving average price is $16.28 and its 200-day moving average price is $8.66. The firm has a market cap of $454.84 million and a PE ratio of 29.52.
Ryerson Holding Corp. (NYSE:RYI) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.23. The firm earned $702.60 million during the quarter, compared to analyst estimates of $717.57 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. On average, equities analysts anticipate that Ryerson Holding Corp. will post $1.34 EPS for the current fiscal year.
A hedge fund recently raised its stake in Ryerson Holding Corp. stock. Towle & Co. boosted its position in Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,646,655 shares of the company’s stock after buying an additional 874,902 shares during the period. Ryerson Holding Corp. comprises approximately 2.7% of Towle & Co.’s investment portfolio, making the stock its 20th largest position. Towle & Co. owned approximately 8.25% of Ryerson Holding Corp. worth $12,360,000 as of its most recent filing with the SEC.
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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