Radius Recycling (NASDAQ:RDUS) Rating Increased to Hold at StockNews.com

Radius Recycling (NASDAQ:RDUS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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

Radius Recycling Stock Performance

Shares of RDUS opened at $19.83 on Wednesday. Radius Recycling has a 52-week low of $12.69 and a 52-week high of $31.70. The stock’s 50-day simple moving average is $18.33 and its 200 day simple moving average is $16.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.92. The stock has a market capitalization of $556.03 million, a price-to-earnings ratio of -2.12 and a beta of 1.59.

Radius Recycling (NASDAQ:RDUS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share (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 company had revenue of $771.00 million during the quarter, compared to analyst estimates of $680.80 million. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts forecast that Radius Recycling will post -1.02 EPS for the current fiscal year.

Insider Activity at Radius Recycling

In related news, SVP Steven Heiskell sold 17,675 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $17.08, for a total value 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 trade represents a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Radius Recycling

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in shares of Radius Recycling in the 2nd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Radius Recycling during the second quarter valued at $30,000. Quarry LP bought a new stake in Radius Recycling in the third quarter worth $32,000. Founders Capital Management grew its stake in shares of Radius Recycling by 50.0% in the third quarter. Founders Capital Management now owns 1,800 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Radius Recycling by 23.6% in the second quarter. Banque Cantonale Vaudoise now owns 2,954 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other 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.