Jefferies Reiterates a Hold Rating on Ryerson Holdings

By Ryan Adsit

In a report released today, Seth Rosenfeld from Jefferies reiterated a Hold rating on Ryerson Holdings (NYSE: RYI). The company’s shares closed yesterday at $8.80.

According to TipRanks.com, Rosenfeld is a 4-star analyst with an average return of 5.8% and a 73.7% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, Worthington Industries, and United States Steel.

Currently, the analyst consensus on Ryerson Holdings is Hold and the average price target is $11, representing a 25.0% upside.

In a report issued on November 3, J.P. Morgan also reiterated a Hold rating on the stock with a $11 price target.

Based on Ryerson Holdings’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $735 million and quarterly net profit of $8.2 million. In comparison, last year the company earned revenue of $790 million and had a net profit of $6.7 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RYI in relation to earlier this year. Most recently, in September 2016, Kevin D. Richardson, the President of RYI bought 1,050 shares for a total of $12,705.

Ryerson Holding Corp. operates as a holding company, which through its subsidiaries engages in the processing and distribution of metals. It processes and distributes products in stainless steel, aluminum carbon steel and alloy steels and a limited line of nickel and red metals in various shapes and forms. It serves end-markets including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It also offers value-added processing and fabrication services such as sawing, slitting, blanking, cutting to length, leveling, flame cutting, laser cutting, edge trimming, edge rolling, roll forming, tube manufacturing, polishing, shearing, forming, stamping, punching, rolling shell plate to radius. The company was founded on July 24, 2007 and is headquartered in Chicago, IL.