BMO Capital Markets Raises Ryerson (NYSE:RYI) Price Target to $25.00

Ryerson (NYSE:RYI) had its price objective lifted by equities research analysts at BMO Capital Markets from $23.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target suggests a potential downside of 0.00% from the stock’s previous close.

Ryerson Price Performance

NYSE:RYI opened at $25.00 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 2.22. The firm has a market cap of $796.31 million, a price-to-earnings ratio of -96.16 and a beta of 1.59. Ryerson has a 52 week low of $17.18 and a 52 week high of $34.65. The firm’s 50-day simple moving average is $20.77 and its 200 day simple moving average is $21.23.

Ryerson (NYSE:RYI) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.34. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. As a group, sell-side analysts predict that Ryerson will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Ryerson

Several hedge funds have recently bought and sold shares of RYI. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ryerson during the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ryerson by 488.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 3,061 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ryerson in the 3rd quarter valued at $108,000. FMR LLC raised its holdings in shares of Ryerson by 159.7% during the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock worth $152,000 after buying an additional 4,704 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Ryerson in the third quarter valued at about $202,000. 94.81% 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 and internationally. It offers a line of products in carbon steel, stainless steel, alloy steels, and aluminum, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structural, and tubing.