Ryerson (RYI) Rating Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Ryerson (NYSE:RYI) from a sell rating to a strong sell rating in a report published on Wednesday.

A number of other brokerages have also weighed in on RYI. Zacks Investment Research upgraded shares of Ryerson from a sell rating to a hold rating in a report on Tuesday, January 23rd. TheStreet upgraded shares of Ryerson from a d+ rating to a c- rating in a report on Monday, January 22nd. Jefferies Group reiterated a hold rating and issued a $11.00 price target on shares of Ryerson in a report on Tuesday, January 9th. Finally, Deutsche Bank decreased their price target on shares of Ryerson from $15.00 to $13.00 and set a buy rating on the stock in a report on Thursday, March 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $11.69.

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Shares of RYI opened at $8.15 on Wednesday. The firm has a market capitalization of $327.44, a price-to-earnings ratio of 22.03 and a beta of 1.89. Ryerson has a fifty-two week low of $7.65 and a fifty-two week high of $14.65. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of -138.43.

Ryerson (NYSE:RYI) last announced its quarterly earnings results on Monday, March 5th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.15). The company had revenue of $810.00 million during the quarter, compared to analyst estimates of $810.20 million. Ryerson had a net margin of 0.51% and a negative return on equity of 71.60%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.19) EPS. sell-side analysts forecast that Ryerson will post 1.3 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of RYI. State Street Corp lifted its holdings in shares of 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 acquiring an additional 10,141 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Ryerson by 11.9% during the 2nd quarter. California State Teachers Retirement System now owns 28,312 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 3,000 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Ryerson during the 3rd quarter valued at $134,000. Wells Fargo & Company MN lifted its holdings in shares of 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 acquiring an additional 226,172 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 89,892 shares in the last quarter. Institutional investors and hedge funds own 39.65% of the company’s stock.

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About Ryerson

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural products, and tubing.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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