Gerdau SA (GGB) Sets New 1-Year High at $2.56
Gerdau SA (NYSE:GGB) shares hit a new 52-week high on Thursday . The company traded as high as $2.56 and last traded at $2.50, with a volume of 13,988,673 shares trading hands. The stock had previously closed at $2.38.
A number of research analysts have weighed in on GGB shares. Bank of America Corp. restated a “buy” rating on shares of Gerdau SA in a report on Sunday, May 22nd. Zacks Investment Research lowered Gerdau SA from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.65.
The company has a 50-day moving average of $2.02 and a 200-day moving average of $1.65. The company’s market cap is $4.51 billion.
An institutional investor recently raised its position in Gerdau SA stock. Boston Partners raised its position in Gerdau SA (NYSE:GGB) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,200,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Boston Partners owned approximately 0.07% of Gerdau SA worth $1,440,000 as of its most recent SEC filing.
Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.
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