Ryerson (RYI) Rating Reiterated by Jefferies Group

Jefferies Group restated their hold rating on shares of Ryerson (NYSE:RYI) in a research report report published on Tuesday morning. They currently have a $11.00 target price on the basic materials company’s stock. Jefferies Group also issued estimates for Ryerson’s Q4 2017 earnings at $0.00 EPS, FY2018 earnings at $1.26 EPS and FY2019 earnings at $2.20 EPS.

A number of other analysts also recently weighed in on RYI. BMO Capital Markets reduced their target price on shares of Ryerson to $10.00 and set a market perform rating on the stock in a report on Monday, November 13th. Zacks Investment Research downgraded shares of Ryerson from a hold rating to a strong sell rating in a report on Wednesday, October 11th. Finally, KeyCorp restated a buy rating and issued a $13.50 target price on shares of Ryerson in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Ryerson currently has a consensus rating of Hold and a consensus target price of $11.50.

Ryerson (NYSE:RYI) traded up $1.85 during trading on Tuesday, hitting $12.00. 470,300 shares of the stock were exchanged, compared to its average volume of 229,225. Ryerson has a 12-month low of $7.65 and a 12-month high of $14.65. The company has a debt-to-equity ratio of -70.93, a quick ratio of 1.08 and a current ratio of 2.49. The company has a market cap of $449.84, a P/E ratio of 52.17 and a beta of 2.07.

Ryerson (NYSE:RYI) last posted its earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Ryerson had a net margin of 0.26% and a negative return on equity of 33.95%. The firm had revenue of $864.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same period in the previous year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 17.6% on a year-over-year basis. sell-side analysts forecast that Ryerson will post 0.55 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Ryerson by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock valued at $9,462,000 after purchasing an additional 89,892 shares during the last quarter. Thrivent Financial For Lutherans bought a new position in Ryerson during the 2nd quarter valued at about $2,754,000. Wells Fargo & Company MN grew its holdings in Ryerson by 1,111.8% during the 3rd quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock valued at $2,674,000 after purchasing an additional 226,172 shares during the last quarter. State Street Corp grew its holdings in Ryerson by 5.0% during the 2nd quarter. State Street Corp now owns 213,745 shares of the basic materials company’s stock valued at $2,119,000 after purchasing an additional 10,141 shares during the last quarter. Finally, Benefit Street Partners LLC grew its holdings in Ryerson by 193.6% during the 2nd quarter. Benefit Street Partners LLC now owns 200,000 shares of the basic materials company’s stock valued at $1,980,000 after purchasing an additional 131,875 shares during the last quarter. Institutional investors own 39.28% of the company’s stock.

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Ryerson Company Profile

Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.

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