Ryerson Holding Corp. (RYI) Trading Down 14.5%
Ryerson Holding Corp. (NYSE:RYI)’s share price dropped 14.5% during trading on Tuesday . The stock traded as low as $16.30 and last traded at $16.59, with a volume of 1,141,547 shares. The stock had previously closed at $19.40.
Several brokerages have recently issued reports on RYI. Jefferies Group raised their price target on shares of Ryerson Holding Corp. to $4.75 in a research note on Monday, March 21st. JPMorgan Chase & Co. raised 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. Finally, Zacks Investment Research upgraded shares of Ryerson Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research note on Friday, May 13th. One 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 company. Ryerson Holding Corp. has an average rating of “Hold” and an average target price of $9.25.
The firm has a market capitalization of $521.93 million and a price-to-earnings ratio of 33.88. The firm’s 50-day moving average price is $16.28 and its 200-day moving average price is $8.52.
Ryerson Holding Corp. (NYSE:RYI) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.23. The business earned $702.60 million during the quarter, compared to analysts’ expectations of $717.57 million. Ryerson Holding Corp.’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. Equities research analysts predict that Ryerson Holding Corp. will post $1.34 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Ryerson Holding Corp. stock. Towle & Co. raised its position in Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 2.7% of Towle & Co.’s holdings, making the stock its 20th largest position. Towle & Co. owned 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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