Ryerson Holding Corp. (NYSE:RYI)’s share price shot up 2.6% on Wednesday . The company traded as high as $17.75 and last traded at $17.57, with a volume of 149,910 shares traded. The stock had previously closed at $17.13.

A number of research firms have recently weighed in on RYI. JPMorgan Chase & Co. upped their price target 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. Zacks Investment Research raised shares of Ryerson Holding Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th. Jefferies Group reiterated a “hold” rating and issued a $14.50 price objective (up from $10.00) on shares of Ryerson Holding Corp. in a research report on Friday, June 10th. Finally, Bank of America Corp. reiterated an “underperform” rating on shares of Ryerson Holding Corp. in a research report on Thursday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.25.

The stock has a market cap of $566.87 million and a P/E ratio of 36.79. The stock’s 50-day moving average price is $14.94 and its 200-day moving average price is $7.68.

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, topping analysts’ consensus estimates of $0.03 by $0.23. The firm had revenue of $702.60 million for the quarter, compared to analyst estimates of $717.57 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Ryerson Holding Corp.’s revenue was down 19.1% on a year-over-year basis. Equities research analysts predict that Ryerson Holding Corp. will post $1.27 earnings per share for the current year.

In other news, Director Stephen P. Larson bought 10,000 shares of the stock in a transaction that occurred on Thursday, April 7th. The shares were purchased at an average cost of $5.44 per share, with a total value of $54,400.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $54,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 about 2.7% of Towle & Co.’s holdings, making the stock its 20th largest position. Towle & Co. owned about 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.