Ryerson (NYSE:RYZ) Upgraded at Zacks Research

Ryerson (NYSE:RYZ) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ryerson in a research report on Monday, September 14th. Wall Street Zen raised Ryerson from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Ryerson Price Performance

Shares of RYZ opened at $29.32 on Monday. The company has a market capitalization of $1.52 billion, a PE ratio of -23.65 and a beta of 1.59. Ryerson has a one year low of $19.34 and a one year high of $32.00. The company’s fifty day moving average price is $25.68 and its 200 day moving average price is $26.35.

Ryerson (NYSE:RYZ) last released its earnings results on Wednesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $2.01 billion for the quarter. Analysts anticipate that Ryerson will post 1.10 earnings per share for the current year.

Hedge Funds Weigh In On Ryerson

Institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its position in Ryerson by 37.2% during the 3rd quarter. SummerHaven Investment Management LLC now owns 41,447 shares of the company’s stock worth $976,000 after buying an additional 11,234 shares in the last quarter. State Street Corp acquired a new position in Ryerson in the second quarter valued at approximately $54,285,000. The Manufacturers Life Insurance Company bought a new position in shares of Ryerson in the 2nd quarter worth $298,000. Engineers Gate Manager LP bought a new position in Ryerson during the second quarter worth about $1,376,000. Finally, Integrated Wealth Concepts LLC bought a new position in Ryerson during the 2nd quarter worth approximately $33,000. 94.81% of the stock is owned by institutional investors.

Ryerson Company Profile

Ryerson Holding Corporation is a value-added processor and distributor of industrial metals. The company supplies carbon steel, stainless steel, aluminum, nickel, and copper products to manufacturers and other industrial customers, offering materials in forms such as sheets, plates, coils, bars, tubes, and structural products.

In addition to distributing metals, Ryerson provides processing and fabrication services designed to prepare materials for customer specifications. These services include cutting, slitting, sawing, forming, machining, and other methods that help customers manage their material requirements and supply chains.

Founded in Chicago in 1842 by Joseph T.