The Goldman Sachs Group Initiates Coverage on Radius Recycling (NASDAQ:RDUS)

The Goldman Sachs Group began coverage on shares of Radius Recycling (NASDAQ:RDUS) in a research note issued 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 indicates a potential upside of 11.00% from the company’s previous close.

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

Radius Recycling Stock Up 0.6 %

Shares of NASDAQ:RDUS opened at $19.82 on Monday. Radius Recycling has a 12-month low of $12.69 and a 12-month high of $31.70. 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 firm has a market cap of $555.75 million, a PE ratio of -2.12 and a beta of 1.55. The company has a fifty day simple moving average of $18.25 and a 200 day simple moving average of $16.74.

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

Insider Transactions at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total transaction of $301,889.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Radius Recycling

A number of hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its position in Radius Recycling by 23.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 564 shares during the last quarter. Founders Capital Management raised its holdings in shares of Radius Recycling by 50.0% during the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Radius Recycling by 1.9% in 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 buying an additional 610 shares in the last quarter. Green Alpha Advisors LLC increased its position in Radius Recycling by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 44,228 shares of the basic materials company’s stock valued at $820,000 after acquiring an additional 925 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Radius Recycling by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,589 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 1,020 shares in the last quarter. 78.11% of the stock is currently owned by institutional investors.

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.