Radius Recycling (NASDAQ:RDUS) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued to investors on Monday,Benzinga reports. The firm set a “neutral” rating and a $22.00 price target on the basic materials company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 11.00% from the company’s previous close.

Separately, StockNews.com lowered shares of Radius Recycling from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.

Radius Recycling Trading Up 0.6 %

Shares of RDUS opened at $19.82 on Monday. Radius Recycling has a fifty-two week low of $12.69 and a fifty-two week high of $31.70. The company has a market capitalization of $555.75 million, a PE ratio of -2.12 and a beta of 1.55. The stock has a fifty day moving average of $18.25 and a two-hundred day moving average of $16.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $680.80 million. During the same period last year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts forecast that Radius Recycling will post -1.02 EPS for the current year.

Insider Buying and Selling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total transaction 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. The trade was a 11.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds and other institutional investors have recently made changes to their positions in RDUS. Price T Rowe Associates Inc. MD purchased a new position in Radius Recycling in the first quarter valued at about $251,000. American Century Companies Inc. raised its holdings in shares of Radius Recycling by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock valued at $8,623,000 after buying an additional 16,162 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Radius Recycling during the 2nd quarter worth approximately $30,000. Boston Partners purchased a new position in Radius Recycling in the 1st quarter worth approximately $279,000. Finally, California State Teachers Retirement System acquired a new stake in Radius Recycling during the 1st quarter valued at $555,000. Institutional investors and hedge funds own 78.11% of the company’s stock.

About Radius Recycling

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.