StockNews.com Upgrades Radius Recycling (NASDAQ:RDUS) to “Hold”

Radius Recycling (NASDAQ:RDUS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, The Goldman Sachs Group initiated coverage on Radius Recycling in a research note on Monday. They set a “neutral” rating and a $22.00 target price for the company.

Radius Recycling Trading Down 4.7 %

Shares of RDUS stock opened at $19.64 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. The stock has a market cap of $550.71 million, a P/E ratio of -2.10 and a beta of 1.59. The stock has a 50 day simple moving average of $18.39 and a 200 day simple moving average of $16.80. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. The firm had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $680.80 million. During the same period in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that Radius Recycling will post -1.02 earnings per share for the current fiscal year.

Insider Activity at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the sale, the senior vice president now directly owns 133,780 shares in the company, valued at $2,284,962.40. This represents a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Radius Recycling

A number of large investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in Radius Recycling by 156.2% during the 3rd quarter. Barclays PLC now owns 58,337 shares of the basic materials company’s stock worth $1,081,000 after acquiring an additional 35,568 shares during the period. Geode Capital Management LLC grew its holdings in Radius Recycling by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 643,674 shares of the basic materials company’s stock worth $11,936,000 after acquiring an additional 36,618 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Radius Recycling by 1.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,186 shares of the basic materials company’s stock worth $615,000 after acquiring an additional 610 shares during the period. Jane Street Group LLC grew its holdings in Radius Recycling by 62.9% during the 3rd quarter. Jane Street Group LLC now owns 90,813 shares of the basic materials company’s stock worth $1,684,000 after acquiring an additional 35,073 shares during the period. Finally, Stifel Financial Corp grew its holdings in Radius Recycling by 28.6% during the 3rd quarter. Stifel Financial Corp now owns 20,052 shares of the basic materials company’s stock worth $372,000 after acquiring an additional 4,455 shares during the period. 78.11% of the stock is currently owned by institutional investors and hedge funds.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.