Gerdau SA (GGB) Given Consensus Rating of “Hold” by Analysts

Shares of Gerdau SA (NYSE:GGB) have received an average recommendation of “Hold” from the six brokerages that are presently covering the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company.

A number of research analysts have recently weighed in on GGB shares. Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday, August 4th. Morgan Stanley upgraded Gerdau SA from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 18th. Zacks Investment Research downgraded Gerdau SA from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. downgraded Gerdau SA from an “overweight” rating to a “neutral” rating in a report on Monday, October 10th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of Gerdau SA by 35.3% in the second quarter. Tower Research Capital LLC TRC now owns 56,486 shares of the company’s stock worth $103,000 after buying an additional 14,750 shares during the period. World Asset Management Inc increased its position in shares of Gerdau SA by 7.5% in the second quarter. World Asset Management Inc now owns 71,360 shares of the company’s stock worth $130,000 after buying an additional 4,969 shares during the period. AMP Capital Investors Ltd increased its position in shares of Gerdau SA by 70.1% in the first quarter. AMP Capital Investors Ltd now owns 139,032 shares of the company’s stock worth $253,000 after buying an additional 57,300 shares during the period. Nwam LLC increased its position in shares of Gerdau SA by 7.5% in the second quarter. Nwam LLC now owns 139,170 shares of the company’s stock worth $253,000 after buying an additional 9,725 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of Gerdau SA by 2.0% in the third quarter. Capstone Asset Management Co. now owns 97,288 shares of the company’s stock worth $265,000 after buying an additional 1,950 shares during the period. Hedge funds and other institutional investors own 6.08% of the company’s stock.

Gerdau SA (NYSE:GGB) opened at 2.90 on Monday. The company has a 50-day moving average price of $2.77 and a 200-day moving average price of $2.23. Gerdau SA has a one year low of $0.79 and a one year high of $3.19. The stock’s market cap is $4.98 billion.

About Gerdau SA

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.

5 Day Chart for NYSE:GGB

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