Gerdau S.A. (GGB) Raised to “Buy” at Sandler O’Neill

Gerdau S.A. (NYSE:GGB) was upgraded by equities researchers at Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued reports about the company. Credit Suisse Group downgraded Gerdau from an “outperform” rating to a “neutral” rating in a report on Thursday, September 7th. Zacks Investment Research downgraded Gerdau from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Santander raised Gerdau from a “hold” rating to a “buy” rating in a research note on Tuesday. J P Morgan Chase & Co raised Gerdau from a “neutral” rating to an “overweight” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded Gerdau from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $4.25.

Gerdau (NYSE GGB) opened at 3.87 on Wednesday. The stock’s 50 day moving average price is $3.59 and its 200 day moving average price is $3.33. The firm’s market cap is $6.61 billion. Gerdau has a 52 week low of $2.47 and a 52 week high of $4.39.

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Hedge funds have recently bought and sold shares of the stock. Global X Management Co. LLC raised its stake in Gerdau by 1.9% during the 1st quarter. Global X Management Co. LLC now owns 32,137 shares of the basic materials company’s stock worth $111,000 after buying an additional 589 shares during the period. Stevens Capital Management LP bought a new stake in Gerdau during the 2nd quarter worth approximately $104,000. Envestnet Asset Management Inc. increased its holdings in Gerdau by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 41,695 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 2,236 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Gerdau by 108.5% during the 2nd quarter. Lazard Asset Management LLC now owns 41,700 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Gerdau during the 2nd quarter worth approximately $152,000. 5.32% of the stock is currently owned by institutional investors and hedge funds.

About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Analyst Recommendations for Gerdau (NYSE:GGB)

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