Ryerson Holding Corp. (RYI) Sees Large Volume Increase
Ryerson Holding Corp. (NYSE:RYI) saw an uptick in trading volume on Wednesday . 5,712,662 shares traded hands during mid-day trading, an increase of 599% from the previous session’s volume of 817,741 shares.The stock last traded at $14.50 and had previously closed at $16.26.
Several brokerages have recently issued reports on RYI. JPMorgan Chase & Co. upped their price objective on Ryerson Holding Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, April 19th. Jefferies Group reiterated a “hold” rating and set a $14.50 target price (up from $10.00) on shares of Ryerson Holding Corp. in a research report 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 target price on the stock in a research report 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 issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $9.25.
The stock has a market cap of $453.24 million and a P/E ratio of 29.42. The company has a 50-day moving average price of $16.28 and a 200-day moving average price of $8.62.
Ryerson Holding Corp. (NYSE:RYI) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.23. During the same period in the prior year, the firm posted $0.15 EPS. The business had revenue of $702.60 million for the quarter, compared to analyst estimates of $717.57 million. Ryerson Holding Corp.’s revenue for the quarter was down 19.1% on a year-over-year basis. Analysts anticipate 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. raised its stake in Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent disclosure 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. comprises approximately 2.7% of Towle & Co.’s portfolio, 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.