Ryerson (RYI) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Ryerson (NYSE:RYI) from a strong sell rating to a sell rating in a research note issued to investors on Monday.

Several other brokerages also recently issued reports on RYI. Zacks Investment Research downgraded Ryerson from a buy rating to a hold rating in a research report on Wednesday, July 25th. Deutsche Bank downgraded Ryerson from a buy rating to a hold rating and set a $12.00 price objective for the company. in a research report on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $11.06.

Ryerson stock opened at $11.07 on Monday. The company has a quick ratio of 0.99, a current ratio of 2.17 and a debt-to-equity ratio of 48.25. The company has a market cap of $421.44 million, a P/E ratio of 29.92 and a beta of 1.80. Ryerson has a one year low of $7.85 and a one year high of $12.95.

Ryerson (NYSE:RYI) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Ryerson had a return on equity of 2,278.26% and a net margin of 0.81%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $0.02 EPS. Ryerson’s revenue was up 20.8% on a year-over-year basis. On average, equities research analysts forecast that Ryerson will post 1.58 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. United Services Automobile Association raised its holdings in Ryerson by 65.5% during the second quarter. United Services Automobile Association now owns 82,900 shares of the basic materials company’s stock worth $924,000 after acquiring an additional 32,800 shares in the last quarter. Northern Trust Corp increased its position in Ryerson by 4.5% during the second quarter. Northern Trust Corp now owns 179,293 shares of the basic materials company’s stock worth $1,999,000 after buying an additional 7,639 shares during the last quarter. Millennium Management LLC acquired a new position in Ryerson during the second quarter worth approximately $558,000. Dimensional Fund Advisors LP increased its position in Ryerson by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,139,289 shares of the basic materials company’s stock worth $12,703,000 after buying an additional 100,475 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its position in Ryerson by 33.8% during the second quarter. Chicago Equity Partners LLC now owns 215,865 shares of the basic materials company’s stock worth $2,407,000 after buying an additional 54,565 shares during the last quarter. Hedge funds and other institutional investors own 37.48% of the company’s stock.

Ryerson Company Profile

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.

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