Deutsche Bank Cuts Ryerson (RYI) Price Target to $13.00

Ryerson (NYSE:RYI) had its price target trimmed by Deutsche Bank from $15.00 to $13.00 in a research report report published on Thursday morning. The brokerage currently has a buy rating on the basic materials company’s stock.

RYI has been the subject of several other research reports. Zacks Investment Research downgraded Ryerson from a hold rating to a sell rating in a research report on Tuesday, January 30th. Jefferies Group reaffirmed a hold rating and issued a $11.00 target price on shares of Ryerson in a research report on Tuesday, January 9th. ValuEngine downgraded Ryerson from a hold rating to a sell rating in a report on Wednesday, March 7th. Finally, TheStreet raised Ryerson from a d+ rating to a c- rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $11.69.

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Shares of NYSE RYI opened at $8.15 on Thursday. Ryerson has a 1-year low of $7.65 and a 1-year high of $14.65. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of -138.43. The stock has a market capitalization of $303.25, a PE ratio of 22.03 and a beta of 1.75.

Ryerson (NYSE:RYI) last issued its earnings results on Monday, March 5th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.15). Ryerson had a negative return on equity of 71.60% and a net margin of 0.51%. The company had revenue of $810.00 million during the quarter, compared to analysts’ expectations of $810.20 million. During the same period in the previous year, the company earned ($0.19) EPS. Ryerson’s quarterly revenue was up 18.8% on a year-over-year basis. research analysts anticipate that Ryerson will post 1.4 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in Ryerson in the third quarter valued at about $431,000. First Trust Advisors LP purchased a new position in Ryerson in the third quarter valued at about $134,000. Chicago Equity Partners LLC boosted its holdings in Ryerson by 24.2% in the fourth quarter. Chicago Equity Partners LLC now owns 138,920 shares of the basic materials company’s stock valued at $1,445,000 after purchasing an additional 27,095 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Ryerson by 18.8% in the fourth quarter. Victory Capital Management Inc. now owns 147,350 shares of the basic materials company’s stock valued at $1,532,000 after purchasing an additional 23,269 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Ryerson in the fourth quarter valued at about $112,000. 39.65% of the stock is owned by hedge funds and other institutional investors.

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Ryerson Company Profile

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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