Gerdau SA (NYSE:GGB) has received a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company.
A number of brokerages have issued reports on GGB. Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Tuesday, October 16th. Goldman Sachs Group initiated coverage on Gerdau in a report on Thursday, December 13th. They issued a “buy” rating for the company. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, December 18th. Finally, HSBC upgraded Gerdau from a “hold” rating to a “buy” rating in a report on Monday, September 17th.
A number of large investors have recently bought and sold shares of the stock. Capital Growth Management LP raised its position in Gerdau by 115.1% during the third quarter. Capital Growth Management LP now owns 20,000,000 shares of the basic materials company’s stock valued at $84,200,000 after buying an additional 10,700,000 shares during the period. Axiom International Investors LLC DE increased its position in Gerdau by 13.2% in the 3rd quarter. Axiom International Investors LLC DE now owns 13,096,222 shares of the basic materials company’s stock worth $55,135,000 after purchasing an additional 1,528,362 shares during the last quarter. Bank of America Corp DE increased its position in Gerdau by 67.9% in the 2nd quarter. Bank of America Corp DE now owns 6,417,573 shares of the basic materials company’s stock worth $22,719,000 after purchasing an additional 2,594,615 shares during the last quarter. Man Group plc increased its position in Gerdau by 667.3% in the 3rd quarter. Man Group plc now owns 5,844,833 shares of the basic materials company’s stock worth $24,607,000 after purchasing an additional 5,083,080 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Gerdau by 112.1% in the 3rd quarter. Fisher Asset Management LLC now owns 4,807,069 shares of the basic materials company’s stock worth $20,238,000 after purchasing an additional 2,540,235 shares during the last quarter. 5.41% of the stock is currently owned by hedge funds and other institutional investors.
GGB stock traded down $0.04 during trading on Monday, reaching $4.14. 18,203,928 shares of the company’s stock were exchanged, compared to its average volume of 11,394,838. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.43 and a current ratio of 2.42. Gerdau has a 1-year low of $3.37 and a 1-year high of $5.32. The firm has a market capitalization of $7.38 billion, a PE ratio of 46.00, a price-to-earnings-growth ratio of 0.33 and a beta of 1.96.
Gerdau (NYSE:GGB) last announced its quarterly earnings results on Wednesday, November 7th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter. Gerdau had a return on equity of 9.41% and a net margin of 0.80%. The company had revenue of $3.26 billion during the quarter. Equities research analysts predict that Gerdau will post 0.42 earnings per share for the current fiscal year.
Gerdau SA engages in the production and commercialization of steel products. It operates throuh the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs, wire rod, structural shapes, and iron ore.
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