Ryerson (NYSE:RYZ) Stock Lifted to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Ryerson (NYSE:RYZ) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks reports.

RYZ has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ryerson in a research note on Monday, September 14th. Wall Street Zen raised shares of Ryerson from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ryerson has an average rating of “Hold”.

Ryerson Stock Performance

Shares of NYSE:RYZ opened at $29.32 on Monday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -23.65 and a beta of 1.59. The stock’s 50-day simple moving average is $25.68 and its two-hundred day simple moving average is $26.35. Ryerson has a 52-week low of $19.34 and a 52-week high of $32.00.

Ryerson (NYSE:RYZ) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $2.01 billion for the quarter. As a group, equities analysts forecast that Ryerson will post 1.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ryerson

A number of institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new stake in Ryerson during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Ryerson during the 2nd quarter valued at about $33,000. Quantbot Technologies LP purchased a new position in shares of Ryerson during the 2nd quarter valued at about $66,000. Public Employees Retirement System of Ohio purchased a new position in shares of Ryerson during the 2nd quarter valued at about $130,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Ryerson during the 2nd quarter valued at approximately $148,000. 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.