Ryerson Holding Corp. (RYI) Shares Down 5.6%
Ryerson Holding Corp. (NYSE:RYI) fell 5.6% during mid-day trading on Monday . The company traded as low as $13.27 and last traded at $13.39, with a volume of 512,663 shares trading hands. The stock had previously closed at $14.18.
RYI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Ryerson Holding Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, April 19th. Jefferies Group restated a “hold” rating and set a $14.50 price objective (up previously from $10.00) on shares of Ryerson Holding Corp. in a research note on Friday, June 10th. Finally, Zacks Investment Research upgraded Ryerson Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research note on Friday, May 13th. One equities research 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. The company presently has a consensus rating of “Hold” and a consensus target price of $9.25.
The stock has a 50-day moving average price of $16.30 and a 200 day moving average price of $8.72. The company has a market cap of $421.46 million and a price-to-earnings ratio of 27.35.
Ryerson Holding Corp. (NYSE:RYI) last released its earnings results on Thursday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.23. During the same quarter in the previous year, the firm earned $0.15 EPS. The firm earned $702.60 million during the quarter, compared to analyst estimates of $717.57 million. Ryerson Holding Corp.’s quarterly revenue was down 19.1% on a year-over-year basis. On average, equities analysts anticipate that Ryerson Holding Corp. will post $1.42 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Ryerson Holding Corp. stock. Towle & Co. boosted its stake in shares of 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 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 at the end of the most recent reporting period.
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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