Ryerson Holding Corp. (RYI) Shares Up 4.9%
Ryerson Holding Corp. (NYSE:RYI) shot up 4.9% during mid-day trading on Friday . The company traded as high as $14.46 and last traded at $14.15, with a volume of 646,795 shares traded. The stock had previously closed at $13.49.
A number of brokerages have recently issued reports on RYI. JPMorgan Chase & Co. boosted their target price on Ryerson Holding Corp. from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 19th. Jefferies Group reaffirmed a “hold” rating and set a $14.50 target price (up from $10.00) on shares of Ryerson Holding Corp. in a research report on Friday, June 10th. Finally, Zacks Investment Research raised 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 report on Friday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the stock. Ryerson Holding Corp. presently has an average rating of “Hold” and a consensus target price of $9.25.
The firm has a market cap of $455.16 million and a price-to-earnings ratio of 29.54. The firm’s 50-day moving average price is $16.30 and its 200 day moving average price is $8.72.
Ryerson Holding Corp. (NYSE:RYI) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.23. The business earned $702.60 million during the quarter, compared to analyst estimates of $717.57 million. The firm’s quarterly revenue was down 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Analysts expect that Ryerson Holding Corp. will post $1.42 EPS for the current fiscal year.
An institutional investor recently raised its position in Ryerson Holding Corp. stock. Towle & Co. raised its position in shares of Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,646,655 shares of the company’s stock after buying an additional 874,902 shares during the period. Ryerson Holding Corp. comprises about 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.