Radius Recycling (NASDAQ:RDUS) Stock Rating Lowered by StockNews.com

Radius Recycling (NASDAQ:RDUS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, The Goldman Sachs Group started coverage on shares of Radius Recycling in a report on Monday, December 2nd. They issued a “neutral” rating and a $22.00 target price on the stock.

Radius Recycling Stock Up 0.3 %

Shares of Radius Recycling stock traded up $0.05 during trading hours on Thursday, reaching $15.66. 252,747 shares of the company’s stock were exchanged, compared to its average volume of 220,073. The stock has a market cap of $439.09 million, a P/E ratio of -1.67 and a beta of 1.59. The company has a 50 day moving average of $18.08 and a two-hundred day moving average of $16.80. The company has a current ratio of 1.92, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. Radius Recycling has a fifty-two week low of $12.69 and a fifty-two week high of $31.70.

Radius Recycling (NASDAQ:RDUS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) EPS for the quarter, beating 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 firm posted $0.47 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Radius Recycling will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the firm’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 value of $301,889.00. Following the sale, the senior vice president now owns 133,780 shares in the company, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Radius Recycling

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Radius Recycling by 31.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,422 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 4,145 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Radius Recycling by 23.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 564 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Radius Recycling by 4.7% during the 2nd quarter. Acadian Asset Management LLC now owns 345,134 shares of the basic materials company’s stock worth $5,267,000 after buying an additional 15,644 shares during the period. Trium Capital LLP grew its position in shares of Radius Recycling by 36,427.0% in the 2nd quarter. Trium Capital LLP now owns 13,515 shares of the basic materials company’s stock valued at $206,000 after buying an additional 13,478 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Radius Recycling by 2.9% in the second 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. 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.