Ryerson (NYSE:RYI) Given a $10.00 Price Target by Deutsche Bank Analysts

Deutsche Bank set a $10.00 price target on Ryerson (NYSE:RYI) in a research note published on Thursday, Stock Target Advisor reports. The brokerage currently has a hold rating on the basic materials company’s stock.

RYI has been the topic of several other research reports. Zacks Investment Research cut GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

Shares of NYSE:RYI opened at $8.06 on Thursday. Ryerson has a 52-week low of $5.99 and a 52-week high of $12.85. The company has a market capitalization of $296.23 million, a PE ratio of 7.53 and a beta of 1.88. The business has a 50 day moving average price of $7.90. The company has a debt-to-equity ratio of 10.69, a quick ratio of 1.01 and a current ratio of 2.34.

Ryerson (NYSE:RYI) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.22. Ryerson had a return on equity of 76.79% and a net margin of 2.66%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Ryerson’s revenue was up 30.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ryerson will post 2.22 EPS for the current fiscal year.

In other news, insider Michael Burbach acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $8.49 per share, with a total value of $33,960.00. Following the completion of the purchase, the insider now directly owns 110,090 shares in the company, valued at $934,664.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RYI. Rhumbline Advisers boosted its position in Ryerson by 48.7% during the 4th quarter. Rhumbline Advisers now owns 20,940 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 6,860 shares in the last quarter. New York State Common Retirement Fund boosted its position in Ryerson by 264.8% during the 4th quarter. New York State Common Retirement Fund now owns 64,561 shares of the basic materials company’s stock valued at $409,000 after acquiring an additional 46,861 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Ryerson by 62.2% during the 4th quarter. Bank of New York Mellon Corp now owns 274,066 shares of the basic materials company’s stock valued at $1,737,000 after acquiring an additional 105,046 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Ryerson by 18.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,672 shares of the basic materials company’s stock valued at $226,000 after acquiring an additional 5,538 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Ryerson by 7.9% during the 4th quarter. Northern Trust Corp now owns 196,902 shares of the basic materials company’s stock valued at $1,248,000 after acquiring an additional 14,414 shares in the last quarter. 35.87% of the stock is currently owned by institutional investors and hedge funds.

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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