Radius Recycling (NASDAQ:RDUS) Upgraded by StockNews.com to “Hold” Rating

Radius Recycling (NASDAQ:RDUS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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

Radius Recycling Price Performance

RDUS stock opened at $19.64 on Wednesday. The stock has a market capitalization of $550.71 million, a PE ratio of -2.10 and a beta of 1.59. The company’s 50-day moving average is $18.39 and its 200-day moving average is $16.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. Radius Recycling has a 1 year low of $12.69 and a 1 year high of $31.70.

Radius Recycling (NASDAQ:RDUS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.18. Radius Recycling had a negative net margin of 9.73% and a negative return on equity of 9.83%. The business had revenue of $771.00 million for the quarter, compared to analysts’ expectations of $680.80 million. During the same quarter last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that Radius Recycling will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of Radius Recycling 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 transaction, the senior vice president now owns 133,780 shares of the company’s stock, valued at $2,284,962.40. This trade represents a 11.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Radius Recycling

Several hedge funds have recently modified their holdings of RDUS. FMR LLC lifted its position in shares of Radius Recycling by 23.7% during the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock worth $17,638,000 after buying an additional 182,435 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Radius Recycling during the 2nd quarter worth approximately $1,213,000. Algert Global LLC purchased a new stake in shares of Radius Recycling during the 3rd quarter worth approximately $922,000. Systematic Financial Management LP increased its stake in shares of Radius Recycling by 8.5% during the 3rd quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock worth $11,698,000 after purchasing an additional 49,450 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Radius Recycling by 78.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,088 shares of the basic materials company’s stock worth $1,483,000 after purchasing an additional 42,636 shares during the last quarter. Institutional investors 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.