Ryerson (NYSE:RYI) Given New $25.00 Price Target at BMO Capital Markets

Ryerson (NYSE:RYI) had its target price increased by stock analysts at BMO Capital Markets from $23.00 to $25.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price points to a potential downside of 1.75% from the company’s previous close.

Ryerson Stock Performance

Shares of RYI stock traded up $1.15 during mid-day trading on Monday, reaching $25.45. The stock had a trading volume of 99,238 shares, compared to its average volume of 246,969. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Ryerson has a 1-year low of $17.18 and a 1-year high of $34.65. The firm has a market cap of $810.45 million, a price-to-earnings ratio of -97.90 and a beta of 1.59. The business’s fifty day moving average is $20.72 and its 200-day moving average is $21.19.

Ryerson (NYSE:RYI) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.34. Ryerson had a negative net margin of 0.19% and a negative return on equity of 0.70%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. On average, research analysts forecast that Ryerson will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Ryerson

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in Ryerson by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,557 shares of the basic materials company’s stock worth $973,000 after acquiring an additional 9,040 shares during the period. Towle & Co. grew its stake in shares of Ryerson by 3.3% during the 4th quarter. Towle & Co. now owns 554,868 shares of the basic materials company’s stock worth $10,271,000 after purchasing an additional 17,925 shares during the period. Millennium Management LLC increased its holdings in shares of Ryerson by 48.3% during the 4th quarter. Millennium Management LLC now owns 57,600 shares of the basic materials company’s stock valued at $1,066,000 after purchasing an additional 18,748 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ryerson by 7.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 704,448 shares of the basic materials company’s stock valued at $13,039,000 after purchasing an additional 49,905 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Ryerson by 12.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 542,433 shares of the basic materials company’s stock worth $10,040,000 after buying an additional 62,092 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

About Ryerson

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.