Gerdau SA (NYSE:GGB) shares reached a new 52-week high during trading on Monday . The stock traded as high as $5.25 and last traded at $5.24, with a volume of 5116451 shares trading hands. The stock had previously closed at $5.11.
A number of brokerages have issued reports on GGB. ValuEngine downgraded Gerdau from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Bank of America raised Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday, November 27th. Credit Suisse Group raised Gerdau from a “neutral” rating to an “outperform” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research downgraded Gerdau from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.50.
The company has a market capitalization of $8,787.45, a P/E ratio of -17.48 and a beta of 2.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.89 and a quick ratio of 1.16.
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.
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