BMO Capital Markets Cuts Ryerson Holding Corporation (RYI) Price Target to $10.00

Ryerson Holding Corporation (NYSE:RYI) had its target price decreased by BMO Capital Markets to $10.00 in a research report report published on Monday, The Fly reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

A number of other analysts also recently issued reports on the company. KeyCorp restated a buy rating and issued a $13.50 price target on shares of Ryerson Holding Corporation in a research report on Tuesday, September 19th. Jefferies Group LLC restated a hold rating and issued a $9.25 price target on shares of Ryerson Holding Corporation in a research report on Thursday, September 7th. Zacks Investment Research downgraded Ryerson Holding Corporation from a hold rating to a strong sell rating in a research report on Wednesday, October 11th. BidaskClub downgraded Ryerson Holding Corporation from a sell rating to a strong sell rating in a research report on Friday, July 28th. Finally, TheStreet upgraded Ryerson Holding Corporation from a d rating to a c rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $12.81.

Shares of Ryerson Holding Corporation (NYSE:RYI) traded down $0.05 on Monday, reaching $8.55. The company had a trading volume of 153,100 shares, compared to its average volume of 306,561. The company has a market capitalization of $319.99, a P/E ratio of 30.71 and a beta of 2.08. Ryerson Holding Corporation has a 12 month low of $7.65 and a 12 month high of $16.85. The company has a debt-to-equity ratio of -70.93, a quick ratio of 1.08 and a current ratio of 2.49.

Ryerson Holding Corporation (NYSE:RYI) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $864.20 million during the quarter, compared to the consensus estimate of $853.35 million. Ryerson Holding Corporation had a negative return on equity of 33.95% and a net margin of 0.26%. Ryerson Holding Corporation’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. sell-side analysts anticipate that Ryerson Holding Corporation will post 0.63 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Ryerson Holding Corporation by 1.7% during the first quarter. Vanguard Group Inc. now owns 912,378 shares of the basic materials company’s stock worth $11,496,000 after purchasing an additional 15,628 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ryerson Holding Corporation by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 872,310 shares of the basic materials company’s stock worth $9,462,000 after purchasing an additional 89,892 shares during the last quarter. Thrivent Financial For Lutherans bought a new stake in shares of Ryerson Holding Corporation during the second quarter worth $2,754,000. ClariVest Asset Management LLC lifted its position in shares of Ryerson Holding Corporation by 17.4% during the second quarter. ClariVest Asset Management LLC now owns 254,990 shares of the basic materials company’s stock worth $2,523,000 after purchasing an additional 37,823 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Ryerson Holding Corporation by 1,111.8% during the third quarter. Wells Fargo & Company MN now owns 246,515 shares of the basic materials company’s stock worth $2,674,000 after purchasing an additional 226,172 shares during the last quarter. Institutional investors and hedge funds own 40.28% of the company’s stock.

About Ryerson Holding Corporation

Ryerson Holding Corporation is a service center company for carbon and stainless steel, as well as aluminum. The Company operates through metal service centers segment. In addition to providing a range of flat and long metals products, it offers various value-added processing and fabrication services, such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius and beveling to process materials to a specified thickness, length, width, shape and surface quality pursuant to specific customer orders.

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