Ryerson (NYSE:RYI) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Ryerson (NYSE:RYI) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago. “

Several other brokerages have also recently commented on RYI. BMO Capital Markets reduced their target price on Ryerson from $9.00 to $7.00 and set a market perform rating for the company in a research report on Monday, August 26th. Deutsche Bank set a $10.00 target price on Ryerson and gave the stock a hold rating in a research report on Thursday, July 11th. Finally, ValuEngine cut Ryerson from a hold rating to a sell rating in a research report on Wednesday, September 25th.

Shares of RYI stock opened at $8.54 on Tuesday. The stock has a market cap of $304.54 million, a P/E ratio of 5.13 and a beta of 2.01. Ryerson has a one year low of $5.99 and a one year high of $11.53. The stock has a fifty day moving average price of $8.03 and a 200 day moving average price of $8.30. The company has a debt-to-equity ratio of 8.94, a current ratio of 2.46 and a quick ratio of 1.06.

Ryerson (NYSE:RYI) last issued its earnings results on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.32). The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Ryerson had a return on equity of 56.51% and a net margin of 2.56%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Ryerson will post 2.05 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its holdings in shares of Ryerson by 111.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,375 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,778 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Ryerson during the second quarter valued at $50,000. UBS Asset Management Americas Inc. bought a new position in shares of Ryerson during the second quarter valued at $86,000. Aperio Group LLC bought a new position in shares of Ryerson during the second quarter valued at $108,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Ryerson during the second quarter valued at $132,000. 35.65% of the stock is owned by institutional investors.

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, structurals, and tubing.

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