Gerdau (NYSE:GGB) Earns “Neutral” Rating from Bank of America

Gerdau (NYSE:GGB)‘s stock had its “neutral” rating reaffirmed by analysts at Bank of America in a research note issued on Monday, MarketBeat Ratings reports.

Separately, UBS Group began coverage on shares of Gerdau in a research report on Wednesday, March 12th. They set a “neutral” rating for the company.

Gerdau Stock Down 3.7 %

NYSE:GGB traded down $0.10 on Monday, hitting $2.48. The stock had a trading volume of 1,277,354 shares, compared to its average volume of 9,230,666. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau has a 52 week low of $2.36 and a 52 week high of $4.04. The business’s fifty day moving average is $2.93 and its 200 day moving average is $3.12. The company has a market cap of $5.15 billion, a PE ratio of 5.70 and a beta of 1.37.

Gerdau (NYSE:GGB) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. On average, equities research analysts expect that Gerdau will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Gerdau

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rehmann Capital Advisory Group bought a new stake in Gerdau during the third quarter worth $37,000. Private Advisor Group LLC purchased a new stake in Gerdau during the fourth quarter worth about $32,000. Wealthfront Advisers LLC purchased a new stake in Gerdau during the fourth quarter worth about $32,000. HighTower Advisors LLC bought a new stake in shares of Gerdau in the 3rd quarter worth approximately $38,000. Finally, Zhang Financial LLC bought a new position in Gerdau during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.