Gerdau (NYSE:GGB) Earns “Neutral” Rating from Bank of America

Gerdau (NYSE:GGB)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Bank of America in a research report issued to clients and investors on Monday, MarketBeat reports.

Separately, UBS Group began coverage on shares of Gerdau in a research note on Wednesday, March 12th. They set a “neutral” rating for the company.

Gerdau Price Performance

Shares of NYSE:GGB opened at $2.30 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 5.34 and a beta of 1.37. The business has a 50-day simple moving average of $2.89 and a two-hundred day simple moving average of $3.10. Gerdau has a fifty-two week low of $2.28 and a fifty-two week high of $4.04.

Gerdau (NYSE:GGB) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. On average, analysts expect that Gerdau will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Gerdau

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC bought a new position in Gerdau in the fourth quarter worth approximately $32,000. Wealthfront Advisers LLC bought a new position in shares of Gerdau in the fourth quarter worth approximately $32,000. Zhang Financial LLC purchased a new stake in shares of Gerdau in the fourth quarter worth $34,000. R Squared Ltd bought a new stake in shares of Gerdau during the 4th quarter valued at $36,000. Finally, Rehmann Capital Advisory Group purchased a new position in shares of Gerdau during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.