Ryerson Holding Corp. (RYI) Stock Price Up 4.9%
Ryerson Holding Corp. (NYSE:RYI) shares shot up 4.9% during trading on Friday . The stock traded as high as $14.46 and last traded at $14.15, with a volume of 646,795 shares. The stock had previously closed at $13.49.
Several brokerages recently commented on RYI. Jefferies Group reaffirmed a “hold” rating and issued a $14.50 target price (up from $10.00) on shares of Ryerson Holding Corp. in a research note on Friday, June 10th. Zacks Investment Research raised shares of Ryerson Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Friday, May 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ryerson Holding Corp. from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the stock. Ryerson Holding Corp. currently has an average rating of “Hold” and an average target price of $9.25.
The stock’s 50-day moving average price is $16.28 and its 200 day moving average price is $8.66. The company has a market cap of $455.16 million and a price-to-earnings ratio of 29.54.
Ryerson Holding Corp. (NYSE:RYI) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. The company had revenue of $702.60 million for the quarter, compared to analysts’ expectations of $717.57 million. During the same period last year, the business earned $0.15 earnings per share. The company’s quarterly revenue was down 19.1% compared to the same quarter last year. On average, analysts predict that Ryerson Holding Corp. will post $1.42 earnings per share for the current year.
A hedge fund recently raised its stake in Ryerson Holding Corp. stock. Towle & Co. increased its position 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 (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. accounts for 2.7% of Towle & Co.’s portfolio, making the stock its 20th largest position. Towle & Co. owned approximately 8.25% of Ryerson Holding Corp. worth $12,360,000 at the end of the most recent quarter.
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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