Ryerson Holding Corp. (RYI) Shares Down 3.2%
Ryerson Holding Corp. (NYSE:RYI) fell 3.2% on Wednesday . The company traded as low as $18.31 and last traded at $18.64, with a volume of 235,022 shares traded. The stock had previously closed at $19.26.
Several research firms have commented on RYI. Jefferies Group reiterated a “hold” rating and issued a $14.50 price objective (up previously from $10.00) on shares of Ryerson Holding Corp. in a research note on Friday, June 10th. Zacks Investment Research upgraded shares of 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. JPMorgan Chase & Co. increased their price objective on shares of Ryerson Holding Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, April 19th. Finally, Bank of America Corp. reiterated an “underperform” rating on shares of Ryerson Holding Corp. in a research note on Thursday, March 17th. One research 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 a consensus target price of $9.25.
The company has a 50-day moving average of $15.67 and a 200-day moving average of $8.10. The firm has a market capitalization of $607.96 million and a P/E ratio of 39.46.
Ryerson Holding Corp. (NYSE:RYI) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.03 by $0.23. The business had revenue of $702.60 million for the quarter, compared to the consensus estimate of $717.57 million. The company’s revenue was down 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. On average, analysts predict that Ryerson Holding Corp. will post $1.34 earnings per share for the current year.
An institutional investor recently raised its position in Ryerson Holding Corp. stock. Towle & Co. boosted its stake in Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,646,655 shares of the company’s stock after buying an additional 874,902 shares during the period. Ryerson Holding Corp. makes up approximately 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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