Companhia Siderúrgica Nacional (NYSE:SID) Upgraded to Strong-Buy by StockNews.com

Companhia Siderúrgica Nacional (NYSE:SID) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research firms have also recently weighed in on SID. Itau BBA Securities reaffirmed an “underperform” rating and set a $3.00 price target on shares of Companhia Siderúrgica Nacional in a research note on Thursday, April 4th. Bank of America cut Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $3.90 to $2.90 in a research report on Tuesday, April 9th.

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE SID traded down $0.04 during midday trading on Tuesday, reaching $2.78. 998,978 shares of the company were exchanged, compared to its average volume of 2,805,737. Companhia Siderúrgica Nacional has a 1 year low of $2.11 and a 1 year high of $4.03. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a fifty day simple moving average of $3.01 and a 200 day simple moving average of $3.22.

Companhia Siderúrgica Nacional (NYSE:SID) last announced its quarterly earnings data on Thursday, March 7th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $2.42 billion during the quarter. Companhia Siderúrgica Nacional had a net margin of 0.76% and a return on equity of 1.69%. As a group, research analysts expect that Companhia Siderúrgica Nacional will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Several large investors have recently added to or reduced their stakes in SID. Lindbrook Capital LLC boosted its position in Companhia Siderúrgica Nacional by 42.7% during the 4th quarter. Lindbrook Capital LLC now owns 9,876 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 2,956 shares during the period. Jump Financial LLC acquired a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter worth approximately $51,000. Quadrant Capital Group LLC increased its holdings in shares of Companhia Siderúrgica Nacional by 28.2% in the 4th quarter. Quadrant Capital Group LLC now owns 13,305 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 2,930 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Companhia Siderúrgica Nacional during the 4th quarter valued at approximately $54,000. Finally, First Affirmative Financial Network acquired a new stake in shares of Companhia Siderúrgica Nacional during the 4th quarter valued at approximately $54,000.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.