HSBC upgraded shares of Gerdau S.A. (NYSE: GGB) from a neutral rating to an overweight rating in a research note released on Wednesday morning.

A number of other analysts have also recently weighed in on GGB. Analysts at Zacks reiterated a neutral rating on shares of Gerdau S.A. in a research note to investors on Thursday, February 28th. They now have a $8.75 price target on the stock. Analysts at JPMorgan Chase upgraded shares of Gerdau S.A. to an overweight rating in a research note to investors on Friday, February 22nd.

Shares of Gerdau S.A. traded up 0.86% during mid-day trading on Wednesday, hitting $8.18. Gerdau S.A. has a one year low of $7.52 and a one year high of $10.82. The stock’s 50-day moving average is currently $8.57. The company has a market cap of $13.910 billion and a P/E ratio of 19.73.

The company also recently declared a special dividend, which is scheduled for Monday, March 25th. Stockholders of record on Thursday, March 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 5th.

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