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

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

Ryerson Price Performance

Shares of RYI stock traded up $1.15 during trading hours on Monday, hitting $25.45. 99,238 shares of the company’s stock were exchanged, compared to its average volume of 246,969. Ryerson has a fifty-two week low of $17.18 and a fifty-two week high of $34.65. The firm has a market cap of $810.45 million, a P/E ratio of -97.90 and a beta of 1.59. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $20.72 and a two-hundred day moving average of $21.19.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported ($0.14) earnings per share 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 analysts’ expectations of $1 billion. Sell-side analysts forecast that Ryerson will post 1.2 EPS for the current year.

Institutional Trading of Ryerson

A number of institutional investors have recently made changes to their positions in RYI. Newbridge Financial Services Group Inc. purchased a new position in Ryerson in the 4th quarter valued at $54,000. Tower Research Capital LLC TRC lifted its stake in shares of Ryerson by 488.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the basic materials company’s stock worth $68,000 after buying an additional 3,061 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ryerson in the third quarter worth about $108,000. FMR LLC grew its stake in Ryerson by 159.7% during the 3rd quarter. FMR LLC now owns 7,649 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 4,704 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Ryerson in the 4th quarter valued at about $196,000. 94.81% of the stock is owned by institutional investors and hedge funds.

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.