In a report issued on July 10, Seth Rosenfeld from Jefferies reiterated a Hold rating on Ryerson Holdings (NYSE: RYI), with a price target of $12.50. The company’s shares closed yesterday at $12.10, close to its 52-week high of $12.95.
According to TipRanks.com, Rosenfeld is a 4-star analyst with an average return of 14.2% and a 70.2% success rate. Rosenfeld covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs Inc, Reliance Steel, and Olympic Steel.
Currently, the analyst consensus on Ryerson Holdings is a Hold with an average price target of $12.25, a 1.2% upside from current levels. In a report issued on July 9, Deutsche Bank also downgraded the stock to Hold with a $12 price target.
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Based on Ryerson Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $10.4 million. In comparison, last year the company had a net profit of $600K.
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Ryerson Holding Corp. 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.
