BidaskClub Downgrades Gerdau S.A. (NYSE:GGB) to Hold

Gerdau S.A. (NYSE:GGB) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 24th.

Several other analysts have also commented on GGB. Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Tuesday, June 27th. Scotiabank upgraded shares of Gerdau from an “underperform” rating to a “sector perform” rating in a research report on Friday, June 9th. Finally, UBS AG lowered shares of Gerdau from a “neutral” rating to a “sell” rating in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Gerdau presently has a consensus rating of “Hold” and an average price target of $3.25.

Shares of Gerdau (GGB) traded down 1.96% on Monday, reaching $3.50. 6,553,422 shares of the company were exchanged. Gerdau has a 52-week low of $2.47 and a 52-week high of $4.39. The stock has a 50 day moving average of $3.32 and a 200-day moving average of $3.40. The company’s market capitalization is $5.98 billion.

WARNING: “BidaskClub Downgrades Gerdau S.A. (NYSE:GGB) to Hold” was first posted by Stock Observer and is owned by of Stock Observer. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.thestockobserver.com/2017/08/12/bidaskclub-lowers-gerdau-s-a-nyseggb-to-hold-updated-updated.html.

Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank increased its position in shares of Gerdau by 13.0% in the fourth quarter. Comerica Bank now owns 64,728 shares of the basic materials company’s stock valued at $262,000 after buying an additional 7,423 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Gerdau by 5.8% in the fourth quarter. AQR Capital Management LLC now owns 38,761 shares of the basic materials company’s stock valued at $122,000 after buying an additional 2,111 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Gerdau by 3.0% in the first quarter. Capstone Asset Management Co. now owns 86,868 shares of the basic materials company’s stock valued at $300,000 after buying an additional 2,540 shares during the last quarter. Nationwide Fund Advisors purchased a new position in shares of Gerdau during the first quarter valued at about $1,013,000. Finally, Profund Advisors LLC increased its position in shares of Gerdau by 102.0% in the first quarter. Profund Advisors LLC now owns 134,676 shares of the basic materials company’s stock valued at $465,000 after buying an additional 68,017 shares during the last quarter. Institutional investors and hedge funds own 4.95% of the company’s stock.

About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

Receive News & Ratings for Gerdau S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau S.A. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply